Kenvue (NYSE:KVUE) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Kenvue (NYSE:KVUE) in a research report report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued an underperform rating and a $18.00 price objective on the stock.

Several other equities analysts have also issued reports on the stock. William Blair started coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a market perform rating on the stock. Royal Bank of Canada decreased their price target on Kenvue from $25.00 to $24.00 and set an outperform rating for the company in a research note on Friday, February 9th. JPMorgan Chase & Co. lowered their price target 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 initiated coverage on shares of Kenvue in a research report on Friday, March 1st. They set a neutral rating and a $20.00 target price on the stock. Finally, UBS Group raised their price target on shares of Kenvue from $20.00 to $23.00 and gave the stock a neutral rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $24.85.

Kenvue Price Performance

KVUE opened at $19.46 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue has a 12 month low of $17.82 and a 12 month high of $27.80. The stock has a fifty day moving average price of $19.97 and a 200-day moving average price of $20.21.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business 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 15.62%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Kenvue will post 1.17 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.11%.

Hedge Funds Weigh In On Kenvue

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in Kenvue in the third quarter valued at approximately $2,944,816,000. FMR LLC increased its holdings 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 purchasing an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after purchasing an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after buying an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley grew its position in Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after buying an additional 30,413,040 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.