JPMorgan Chase & Co. Boosts Kenvue (NYSE:KVUE) Price Target to $24.00

Kenvue (NYSE:KVUE) had its target price hoisted by JPMorgan Chase & Co. from $22.00 to $24.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on KVUE. UBS Group raised their price objective on Kenvue from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an underperform rating and a $18.00 price objective for the company. Citigroup decreased their target price on shares of Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Kenvue from $24.00 to $23.00 and set a buy rating on the stock in a report on Thursday, July 25th. Finally, HSBC boosted their price target on Kenvue from $20.00 to $21.00 and gave the company a hold rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has an average rating of Hold and a consensus target price of $22.64.

Kenvue Stock Performance

Shares of NYSE:KVUE traded down $0.23 during trading on Wednesday, reaching $21.02. The stock had a trading volume of 20,636,934 shares, compared to its average volume of 19,304,982. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $18.61 and a two-hundred day simple moving average of $19.44. The firm has a market capitalization of $40.25 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.07 and a beta of 1.38. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.10.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, analysts anticipate that Kenvue will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.90%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is currently 105.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings in shares of Kenvue by 1,748.0% in the 4th quarter. International Assets Investment Management LLC now owns 196,927 shares of the company’s stock valued at $4,240,000 after buying an additional 186,271 shares during the last quarter. Sowell Financial Services LLC lifted its stake in Kenvue by 49.3% in the fourth quarter. Sowell Financial Services LLC now owns 15,016 shares of the company’s stock valued at $323,000 after acquiring an additional 4,957 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Kenvue by 7.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 52,587 shares of the company’s stock valued at $1,132,000 after acquiring an additional 3,699 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kenvue by 51.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 299,069 shares of the company’s stock valued at $6,439,000 after purchasing an additional 102,150 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Kenvue by 313.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 331,005 shares of the company’s stock valued at $7,127,000 after purchasing an additional 250,958 shares during the last quarter. 97.64% of the stock is currently owned by 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.