Kenvue (NYSE:KVUE) Given New $23.00 Price Target at Barclays

Kenvue (NYSE:KVUE) had its target price hoisted by Barclays from $21.00 to $23.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research analysts have also commented on the stock. Citigroup lowered their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Piper Sandler raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. UBS Group dropped their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

Kenvue Stock Up 0.5 %

NYSE:KVUE opened at $23.52 on Thursday. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.46. The stock’s fifty day moving average is $22.27 and its two-hundred day moving average is $22.46. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 44.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Research analysts anticipate that Kenvue will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Hedge Funds Weigh In On Kenvue

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Kenvue by 14.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 603,648 shares of the company’s stock worth $12,888,000 after purchasing an additional 75,332 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Kenvue in the 4th quarter valued at $13,101,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Kenvue during the 4th quarter worth $26,982,000. Brooklyn FI LLC purchased a new stake in Kenvue in the fourth quarter valued at $948,000. Finally, Azzad Asset Management Inc. ADV boosted its stake in Kenvue by 3.0% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 291,915 shares of the company’s stock valued at $6,232,000 after acquiring an additional 8,532 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

About Kenvue

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.