Bank of America Boosts Kenvue (NYSE:KVUE) Price Target to $27.00

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

A number of other analysts also recently commented on the stock. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Citigroup lowered their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Performance

NYSE KVUE traded down $0.17 on Tuesday, hitting $22.75. 10,695,898 shares of the company’s stock were exchanged, compared to its average volume of 18,195,807. The firm has a market cap of $43.56 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.76 and a beta of 1.40. The firm’s 50-day moving average price is $22.30 and its two-hundred day moving average price is $20.22. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. 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 (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. Kenvue’s revenue was down .3% compared to the same quarter last year. On average, research analysts expect that Kenvue will post 1.08 EPS for the current year.

Institutional Trading of Kenvue

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 buying an additional 17,908,497 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after buying an additional 10,783,258 shares during the period. Clearbridge Investments LLC grew its position in Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after acquiring an additional 7,546,362 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Company Profile

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.