Piper Sandler Initiates Coverage on Kenvue (NYSE:KVUE)

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

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Kenvue from $29.00 to $26.00 and set a buy rating for the company in a research report on Tuesday, October 10th. Canaccord Genuity Group assumed coverage on shares of Kenvue in a research report on Thursday, September 7th. They set a buy rating and a $28.00 target price for the company. Argus assumed coverage on shares of Kenvue in a research report on Wednesday, September 6th. They set a hold rating for the company. Canaccord Genuity Group started coverage on shares of Kenvue in a research report on Thursday, September 7th. They set a buy rating and a $28.00 target price for the company. Finally, Edward Jones started coverage on shares of Kenvue in a research report on Tuesday, July 25th. They set a buy rating for the company. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $26.92.

Kenvue Price Performance

KVUE opened at $19.75 on Friday. Kenvue has a 1-year low of $17.82 and a 1-year high of $27.80. The company has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $23.08. 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 (NYSE:KVUE) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Kenvue had a net margin of 10.08% and a return on equity of 12.02%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.87 billion. As a group, equities analysts anticipate that Kenvue will post 1.26 earnings per share for the current year.

Kenvue Announces Dividend

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

Insider Activity

In other news, Director Richard E. Allison, Jr. bought 5,598 shares of Kenvue stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average price of $22.96 per share, with a total value of $128,530.08. Following the completion of the purchase, the director now owns 25,598 shares in the company, valued at approximately $587,730.08. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Kenvue

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KVUE. Clearstead Advisors LLC bought a new stake in Kenvue during the 3rd quarter valued at about $25,000. Kistler Tiffany Companies LLC bought a new stake in shares of Kenvue in the 2nd quarter valued at about $26,000. Tamarack Advisers LP bought a new stake in shares of Kenvue in the 2nd quarter valued at about $26,000. AdvisorNet Financial Inc bought a new stake in shares of Kenvue in the 3rd quarter valued at about $28,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Kenvue in the 3rd quarter valued at about $28,000. Institutional investors own 11.33% 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, and other products under the Tylenol, Nicorette, and Zyrtec brands.