UBS Group Cuts Kenvue (NYSE:KVUE) Price Target to $23.00

Kenvue (NYSE:KVUE) had its price target cut by UBS Group from $24.00 to $23.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on KVUE. Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Citigroup lowered their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.08.

Kenvue Stock Performance

Shares of Kenvue stock opened at $21.11 on Thursday. The firm has a market cap of $40.46 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The stock’s 50-day moving average is $22.42 and its 200-day moving average is $21.69. Kenvue has a one year low of $17.67 and a one year high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. Equities analysts predict that Kenvue will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is 149.09%.

Hedge Funds Weigh In On Kenvue

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its position in shares of Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the last quarter. State Street Corp grew its position in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after purchasing an additional 399,846 shares during the last quarter. Finally, Harris Associates L P grew its position in shares of Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.