Royal Bank of Canada Reaffirms “Outperform” Rating for Kenvue (NYSE:KVUE)

Royal Bank of Canada reiterated their outperform rating on shares of Kenvue (NYSE:KVUE) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $24.00 price target on the stock.

Several other research analysts also recently issued reports on the stock. UBS Group upped their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a neutral rating in a report on Wednesday. HSBC raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a hold rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a buy rating in a research report on Wednesday. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an underperform rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Kenvue from $22.00 to $24.00 and gave the stock an overweight rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Kenvue has an average rating of Hold and an average price target of $22.64.

Kenvue Stock Performance

NYSE KVUE traded down $0.23 during trading on Wednesday, reaching $21.02. The company’s stock had a trading volume of 20,636,934 shares, compared to its average volume of 19,304,982. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $40.25 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. The firm has a 50 day moving average price of $18.61 and a 200 day moving average price of $19.44. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.10.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts anticipate that Kenvue will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KVUE. Stephens Inc. AR boosted its stake in Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after purchasing an additional 26,700 shares during the last quarter. Stifel Financial Corp lifted its stake in Kenvue by 60.4% during the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after acquiring an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock worth $930,000 after acquiring an additional 43,164 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Kenvue by 2.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after acquiring an additional 40,995 shares in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after purchasing an additional 223,537 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.