Royal Bank of Canada Cuts Kenvue (NYSE:KVUE) Price Target to $24.00

Kenvue (NYSE:KVUEFree Report) had its price target lowered by Royal Bank of Canada from $25.00 to $24.00 in a research report report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on KVUE. UBS Group raised their price objective on shares of Kenvue from $20.00 to $23.00 and gave the stock a neutral rating in a report on Tuesday, December 19th. Piper Sandler initiated coverage on shares of Kenvue in a report on Friday, November 17th. They set a neutral rating and a $20.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $25.92.

Check Out Our Latest Report on Kenvue

Kenvue Trading Up 1.4 %

Shares of KVUE stock opened at $19.60 on Friday. The firm has a 50-day moving average of $20.94 and a 200-day moving average of $21.00. The company has a current ratio of 1.14, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. Kenvue has a one year low of $17.82 and a one year high of $27.80.

Kenvue (NYSE:KVUEGet Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 14.83%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Kenvue will post 1.19 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.08%.

Hedge Funds Weigh In On Kenvue

A number of large investors have recently modified their holdings of the company. Robinson Smith Wealth Advisors LLC bought a new position in shares of Kenvue in the fourth quarter valued at approximately $249,000. Crestline Management LP boosted its position in shares of Kenvue by 638.0% in the fourth quarter. Crestline Management LP now owns 407,023 shares of the company’s stock valued at $8,763,000 after acquiring an additional 351,869 shares during the period. Banco BTG Pactual S.A. bought a new position in shares of Kenvue in the fourth quarter valued at approximately $2,466,000. Alpha DNA Investment Management LLC bought a new position in shares of Kenvue in the fourth quarter valued at approximately $1,935,000. Finally, Tradition Wealth Management LLC raised its stake in Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after purchasing an additional 575 shares in the last quarter. 11.33% of the stock is currently owned by institutional investors.

About Kenvue

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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, and other products under the Tylenol, Nicorette, and Zyrtec brands.

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