Kenvue (NYSE:KVUE) Price Target Increased to $21.00 by Analysts at HSBC

Kenvue (NYSE:KVUE) had its price objective boosted by HSBC from $20.00 to $21.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an overweight rating for the company in a report on Friday, February 9th. The Goldman Sachs Group began coverage on shares of Kenvue in a research report on Friday, March 1st. They issued a neutral rating and a $20.00 price target for the company. Royal Bank of Canada cut their price objective on shares of 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 Kenvue in a research report on Wednesday, April 3rd. They set a market perform rating on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an underperform rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has a consensus rating of Hold and a consensus target price of $24.38.

Kenvue Stock Up 0.4 %

NYSE KVUE traded up $0.09 during trading hours on Wednesday, reaching $20.54. The company’s stock had a trading volume of 13,146,930 shares, compared to its average volume of 17,092,076. Kenvue has a 1 year low of $17.82 and a 1 year high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $19.87 and its 200-day moving average price is $20.12.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company’s revenue was down 24.9% on a year-over-year basis. As a group, analysts predict that Kenvue will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.89%.

Institutional Investors Weigh In On Kenvue

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

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.