Kenvue (NYSE:KVUE) Given New $23.00 Price Target at Barclays

Kenvue (NYSE:KVUE) had its price objective raised by equities research analysts at Barclays from $22.00 to $23.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 4.11% from the stock’s previous close.

A number of other brokerages also recently weighed in on KVUE. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. UBS Group raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler upped their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Citigroup increased their price objective on Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a report on Friday. Finally, Redburn Atlantic initiated coverage on Kenvue in a research note on Thursday, April 10th. They set a “neutral” rating and a $23.50 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus price target of $25.33.

Kenvue Trading Down 1.9%

Shares of NYSE KVUE traded down $0.46 during mid-day trading on Monday, reaching $23.99. The company had a trading volume of 15,041,213 shares, compared to its average volume of 17,116,710. The stock has a market cap of $46.02 billion, a price-to-earnings ratio of 45.25, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Kenvue has a 52 week low of $17.67 and a 52 week high of $25.17. The business’s 50-day moving average is $23.13 and its 200-day moving average is $22.55. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Equities analysts expect that Kenvue will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Kenvue in the fourth quarter worth about $521,348,000. Starboard Value LP acquired a new position in Kenvue in the fourth quarter valued at approximately $467,864,000. Franklin Resources Inc. grew its holdings in shares of Kenvue by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock worth $912,059,000 after purchasing an additional 16,269,721 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after acquiring an additional 10,682,003 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Kenvue by 4.9% during the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company’s stock worth $5,494,882,000 after buying an additional 10,600,682 shares during the period. 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.