Kenvue (NYSE:KVUE) Rating Increased to Moderate Buy at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Kenvue (NYSE:KVUE - Free Report) from a hold rating to a moderate buy rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on KVUE. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They issued a "buy" rating and a $27.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.64.

Kenvue Trading Down 2.1 %

Shares of KVUE stock traded down $0.47 during mid-day trading on Monday, reaching $22.27. 5,836,600 shares of the stock traded hands, compared to its average volume of 17,668,244. The company has a market cap of $42.70 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock's fifty day simple moving average is $22.96 and its two-hundred day simple moving average is $21.15. Kenvue has a 1-year low of $17.67 and a 1-year high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company earned $0.31 EPS. The firm's revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Kenvue will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.68%. Kenvue's payout ratio is 149.09%.

Institutional Investors Weigh In On Kenvue

Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of Kenvue in the third quarter valued at about $30,000. Ashton Thomas Securities LLC purchased a new stake in Kenvue in the 3rd quarter valued at about $35,000. Deseret Mutual Benefit Administrators lifted its position in shares of Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock worth $45,000 after buying an additional 651 shares in the last quarter. Studio Investment Management LLC boosted its stake in shares of Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after buying an additional 845 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Kenvue in the third quarter valued at approximately $71,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.