Fintel reports that on March 1, 2024, Goldman Sachs downgraded their outlook for Kenvue (NYSE:KVUE) from Buy to Neutral .
Analyst Price Forecast Suggests 22.99% Upside
As of February 24, 2024, the average one-year price target for Kenvue is 23.37. The forecasts range from a low of 20.20 to a high of $27.30. The average price target represents an increase of 22.99% from its latest reported closing price of 19.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kenvue is 16,659MM, an increase of 7.87%. The projected annual non-GAAP EPS is 1.29.
Kenvue Declares $0.20 Dividend
On January 25, 2024 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of February 14, 2024 received the payment on February 28, 2024. Previously, the company paid $0.20 per share.
At the current share price of $19.00 / share, the stock's dividend yield is 4.21%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.43%, the lowest has been 0.87%, and the highest has been 4.22%. The standard deviation of yields is 1.07 (n=35).
The current dividend yield is 1.66 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.69. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1881 funds or institutions reporting positions in Kenvue. This is an increase of 268 owner(s) or 16.62% in the last quarter. Average portfolio weight of all funds dedicated to KVUE is 0.42%, an increase of 4.37%. Total shares owned by institutions increased in the last three months by 14.58% to 2,175,545K shares. 
The put/call ratio of KVUE is 0.37, indicating a bullish outlook.
What are Other Shareholders Doing?
Johnson & Johnson holds 182,330K shares representing 9.52% ownership of the company.
Price T Rowe Associates holds 109,327K shares representing 5.71% ownership of the company. In it's prior filing, the firm reported owning 91,209K shares, representing an increase of 16.57%. The firm increased its portfolio allocation in KVUE by 17.84% over the last quarter.
Wellington Management Group Llp holds 76,502K shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 71,687K shares, representing an increase of 6.29%. The firm decreased its portfolio allocation in KVUE by 87.41% over the last quarter.
Massachusetts Financial Services holds 66,665K shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 61,091K shares, representing an increase of 8.36%. The firm increased its portfolio allocation in KVUE by 7.91% over the last quarter.
Jpmorgan Chase holds 60,245K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 58,286K shares, representing an increase of 3.25%. The firm decreased its portfolio allocation in KVUE by 3.49% over the last quarter.
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This story originally appeared on Fintel.
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