Kenvue (NYSE:KVUE) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Kenvue (NYSE:KVUE) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $27.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Royal Bank of Canada cut shares of Kenvue from an outperform rating to a sector perform rating and set a $24.00 price objective for the company. in a research note on Tuesday. Citigroup cut their price objective on shares of Kenvue from $21.00 to $20.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $22.10.

Kenvue Price Performance

KVUE stock opened at $23.12 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue has a one year low of $17.67 and a one year high of $23.55. The stock has a market cap of $44.27 billion, a PE ratio of 29.64, a P/E/G ratio of 2.92 and a beta of 1.40. The firm has a 50 day simple moving average of $21.21 and a two-hundred day simple moving average of $20.03.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that Kenvue will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.55%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is presently 105.13%.

Institutional Investors Weigh In On Kenvue

Institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the period. Mather Group LLC. bought a new position in Kenvue in the 1st quarter worth $28,000. MV Capital Management Inc. raised its holdings in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 642 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Kenvue in the 1st quarter worth $33,000. Finally, Riverview Trust Co bought a new position in Kenvue in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.