Kenvue (NYSE:KVUE) Coverage Initiated by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group initiated coverage on shares of Kenvue (NYSE:KVUE) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $27.00 price target on the stock. Jefferies Financial Group’s price objective points to a potential upside of 17.29% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday. UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup decreased their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.10.

Kenvue Stock Performance

KVUE opened at $23.02 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 fifty-two week low of $17.67 and a fifty-two week high of $23.55. The company’s 50 day moving average price is $21.02 and its two-hundred day moving average price is $19.99. 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.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. Kenvue’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, research analysts predict that Kenvue will post 1.08 earnings per share for the current year.

Institutional Trading of Kenvue

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kenvue by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares in the last quarter. Van ECK Associates Corp grew its position in Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after purchasing an additional 10,783,258 shares during the period. Clearbridge Investments LLC increased its stake in Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 buying an additional 7,546,362 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

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.