Piper Sandler Increases Kenvue (NYSE:KVUE) Price Target to $21.00

Kenvue (NYSE:KVUE) had its target price increased by research analysts at Piper Sandler from $20.00 to $21.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential downside of 8.77% from the company’s current price.

A number of other research firms have also weighed in on KVUE. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Citigroup reduced 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. UBS Group upped their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Kenvue has an average rating of “Hold” and a consensus price target of $21.56.

Kenvue Price Performance

KVUE stock opened at $23.02 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The firm has a market capitalization of $44.08 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.92 and a beta of 1.40. The firm has a 50 day moving average price of $20.92 and a 200-day moving average price of $19.96. Kenvue has a 52-week low of $17.67 and a 52-week high of $23.55.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 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 business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast that Kenvue will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Several institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC increased its holdings in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Kenvue in the 1st quarter worth $28,000. MV Capital Management Inc. raised its holdings in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 642 shares during the period. Salomon & Ludwin LLC purchased a new position in Kenvue during the first quarter valued at $33,000. Finally, Riverview Trust Co bought a new stake in Kenvue during the first quarter valued at about $33,000. 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.