Piper Sandler Initiates Coverage on Kenvue (NYSE:KVUE)

Piper Sandler began coverage on shares of Kenvue (NYSE:KVUE) in a report issued on Friday, MarketBeat reports. The firm issued a neutral rating and a $20.00 price target on the stock.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Kenvue from $29.00 to $26.00 and set an overweight rating for the company in a report on Wednesday, October 4th. The Goldman Sachs Group decreased their target price on Kenvue from $29.00 to $26.00 and set a buy rating for the company in a report on Tuesday, October 10th. Canaccord Genuity Group started coverage on Kenvue in a report on Thursday, September 7th. They set a buy rating and a $28.00 target price for the company. Argus started coverage on Kenvue in a report on Wednesday, September 6th. They set a hold rating for the company. Finally, Canaccord Genuity Group initiated coverage on Kenvue in a report on Thursday, September 7th. They set a buy rating and a $28.00 target price for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has an average rating of Moderate Buy and an average price target of $26.92.

Kenvue Stock Performance

KVUE opened at $19.75 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 1.14. The business has a 50-day moving average of $19.86 and a two-hundred day moving average of $23.08. Kenvue has a 12 month low of $17.82 and a 12 month high of $27.80.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Kenvue had a return on equity of 12.02% and a net margin of 10.08%. Sell-side analysts anticipate that Kenvue will post 1.26 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Tuesday, November 7th.

Insider Buying and Selling at Kenvue

In other Kenvue news, Director Richard E. Allison, Jr. bought 5,598 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average cost of $22.96 per share, with a total value of $128,530.08. Following the transaction, the director now directly owns 25,598 shares in the company, valued at approximately $587,730.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Kenvue

Institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in shares of Kenvue by 572.1% during the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after acquiring an additional 75,913,107 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after acquiring an additional 42,449,470 shares in the last quarter. Morgan Stanley raised its position in shares of Kenvue by 4,057.4% during the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after acquiring an additional 30,413,040 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Kenvue by 615.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 29,732,463 shares of the company’s stock valued at $597,028,000 after acquiring an additional 25,576,681 shares in the last quarter. Finally, Invesco Ltd. increased its position in Kenvue by 379.9% in the third quarter. Invesco Ltd. now owns 18,912,891 shares of the company’s stock worth $379,771,000 after buying an additional 14,972,089 shares during the period. 11.33% of the stock is 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, and other products under the Tylenol, Nicorette, and Zyrtec brands.