Kenvue (NYSE:KVUE) PT Raised to $22.00

Kenvue (NYSE:KVUE) had its price objective lifted by stock analysts at UBS Group from $20.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 5.16% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. 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 target on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $22.36.

Kenvue Price Performance

Shares of KVUE stock traded up $0.06 during trading hours on Wednesday, reaching $20.92. The company’s stock had a trading volume of 5,484,883 shares, compared to its average volume of 19,154,412. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.10. The firm’s 50 day simple moving average is $18.47 and its 200-day simple moving average is $19.41. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $40.06 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.07 and a beta of 1.38.

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

Institutional Trading of Kenvue

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after purchasing an additional 25,238,112 shares during the period. Vanguard Group Inc. boosted its position in shares of Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares in the last quarter. Norges Bank acquired a new stake in shares of Kenvue in the 4th quarter valued at about $282,100,000. Van ECK Associates Corp increased its position in Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after buying an additional 10,783,258 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after buying an additional 9,752,836 shares during the period. Institutional investors 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.