UBS Group Cuts Kenvue (NYSE:KVUE) Price Target to $23.00

Kenvue (NYSE:KVUE) had its price target lowered by equities research analysts at UBS Group from $24.00 to $23.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 8.44% from the company’s current price.

Other equities analysts also recently issued reports about the company. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $21.00 to $26.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup decreased their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and decreased their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.27.

Kenvue Stock Performance

Shares of Kenvue stock traded up $0.36 during trading hours on Thursday, reaching $21.21. 5,836,593 shares of the stock traded hands, compared to its average volume of 8,815,551. The company has a 50 day moving average price of $22.50 and a 200 day moving average price of $21.64. Kenvue has a one year low of $17.67 and a one year high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KVUE. FMR LLC raised its position in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp increased its position in shares of Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after buying an additional 7,115,374 shares during the period. Geode Capital Management LLC lifted its position in Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after buying an additional 399,846 shares during the last quarter. Finally, Harris Associates L P boosted its stake in Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after buying an additional 2,186,114 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.