Citigroup Reaffirms “Neutral” Rating for Kenvue (NYSE:KVUE)

Citigroup restated their neutral rating on shares of Kenvue (NYSE:KVUE) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $21.00 target price on the stock.

KVUE has been the topic of several other research reports. Royal Bank of Canada cut their price target on Kenvue from $25.00 to $24.00 and set an outperform rating on the stock in a report on Friday, February 9th. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a market perform rating for the company. HSBC increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a hold rating in a research report on Wednesday, May 8th. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research report on Thursday, April 11th. They set an underperform rating and a $18.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on Kenvue in a report on Friday, March 1st. They issued a neutral rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Kenvue presently has an average rating of Hold and a consensus price target of $23.09.

Kenvue Stock Up 0.6 %

Shares of NYSE:KVUE opened at $18.99 on Tuesday. The firm has a market capitalization of $36.36 billion and a PE ratio of 24.35. Kenvue has a 1 year low of $17.82 and a 1 year high of $26.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The firm’s 50-day moving average is $19.89 and its two-hundred day moving average is $20.19.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. The firm’s revenue was down 24.9% on a year-over-year basis. Analysts predict that Kenvue will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s dividend payout ratio is currently 102.56%.

Hedge Funds Weigh In On Kenvue

Hedge funds have recently modified their holdings of the business. Clearstead Advisors LLC acquired a new stake in Kenvue during the 3rd quarter worth $25,000. Manchester Capital Management LLC grew its holdings in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after buying an additional 530 shares during the last quarter. Planned Solutions Inc. acquired a new position in Kenvue in the 4th quarter valued at about $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Kenvue during the 4th quarter valued at approximately $28,000. Finally, Mather Group LLC. acquired a new stake in Kenvue during the 1st quarter worth approximately $28,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.