Kenvue Inc. (NYSE:KVUE) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Kenvue, with 12 holds and three buys among 15 firms. The average 12-month price target is $19.27, above the reported share price of $17.77.
• Institutional ownership is substantial at 97.64%, with major investors including BlackRock, California State Teachers Retirement System, Pentwater Capital Management and Norges Bank recently adding or initiating positions.
• Kenvue slightly missed quarterly expectations, reporting $0.31 in adjusted EPS versus $0.32 expected and $3.96 billion in revenue versus $3.97 billion expected. The company declared a quarterly dividend of $0.21 per share, implying a 4.7% yield.

Kenvue Inc. (NYSE:KVUE - Get Free Report) has been assigned a consensus rating of "Hold" from the fifteen research firms that are covering the firm, MarketBeat.com reports. Twelve analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.2727.

KVUE has been the subject of several research reports. UBS Group lowered their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, August 11th. Barclays raised their target price on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen lowered Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th.

Hedge Funds Weigh In On Kenvue

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Kenvue during the 2nd quarter worth about $2,882,279,000. California State Teachers Retirement System raised its position in shares of Kenvue by 1,695.1% during the 2nd quarter. California State Teachers Retirement System now owns 56,438,843 shares of the company's stock worth $1,078,546,000 after acquiring an additional 53,294,807 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Kenvue during the 2nd quarter worth about $977,094,000. Norges Bank purchased a new stake in Kenvue during the fourth quarter worth approximately $756,862,000. Finally, Independent Franchise Partners LLP boosted its holdings in Kenvue by 56.3% in the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after purchasing an additional 17,343,785 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.1%

Shares of NYSE:KVUE opened at $17.77 on Friday. Kenvue has a 12-month low of $14.02 and a 12-month high of $20.13. The business's fifty day simple moving average is $19.09 and its 200-day simple moving average is $18.24. The company has a market capitalization of $34.14 billion, a PE ratio of 20.43, a P/E/G ratio of 1.58 and a beta of 0.46. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. As a group, equities research analysts predict that Kenvue will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Monday, September 21st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 21st. Kenvue's dividend payout ratio (DPR) is currently 96.55%.

Kenvue Company Profile

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.

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