Kenvue (NYSE:KVUE) PT Raised to $27.00 at Bank of America

Kenvue (NYSE:KVUE) had its target price raised by equities researchers at Bank of America from $24.00 to $27.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 18.68% from the company’s current price.

Several other research analysts also recently commented on the stock. Piper Sandler lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, UBS Group boosted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Kenvue has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Trading Down 0.8 %

Shares of Kenvue stock opened at $22.75 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue has a 1 year low of $17.67 and a 1 year high of $23.55. The firm has a market cap of $43.56 billion, a PE ratio of 29.17, a PEG ratio of 2.76 and a beta of 1.40. The company has a 50 day simple moving average of $22.36 and a two-hundred day simple moving average of $20.26.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. Analysts expect that Kenvue will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Kenvue

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Wealth Group LLC lifted its holdings in Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after buying an additional 223,537 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Kenvue by 56.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock worth $39,505,000 after acquiring an additional 662,666 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Kenvue in the 1st quarter valued at approximately $1,050,000. Norden Group LLC bought a new stake in shares of Kenvue during the first quarter valued at approximately $1,792,000. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in Kenvue by 59.0% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after purchasing an additional 57,375 shares during the period. Hedge funds and other 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.