Kenvue (NYSE:KVUE) Earns “Sector Perform” Rating from Royal Bank of Canada

Kenvue (NYSE:KVUE)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They presently have a $24.00 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 15.36% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Citigroup dropped their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group reduced their price target on Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays lowered their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Bank of America upped their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.08.

Kenvue Stock Performance

KVUE opened at $20.81 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue has a 12-month low of $17.67 and a 12-month high of $24.46. The firm has a 50 day moving average of $21.77 and a two-hundred day moving average of $21.96. The firm has a market capitalization of $39.89 billion, a PE ratio of 37.83, a P/E/G ratio of 2.05 and a beta of 1.45.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, analysts anticipate that Kenvue will post 1.14 EPS for the current year.

Institutional Trading of Kenvue

A number of hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kenvue by 13.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 62,687 shares of the company’s stock worth $1,140,000 after acquiring an additional 7,564 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Kenvue by 7.2% in the second quarter. B. Riley Wealth Advisors Inc. now owns 27,278 shares of the company’s stock valued at $496,000 after acquiring an additional 1,838 shares during the last quarter. AMF Tjanstepension AB grew its position in Kenvue by 187.3% in the third quarter. AMF Tjanstepension AB now owns 120,477 shares of the company’s stock worth $2,787,000 after acquiring an additional 78,540 shares during the period. Handelsbanken Fonder AB increased its stake in Kenvue by 2.7% during the third quarter. Handelsbanken Fonder AB now owns 720,962 shares of the company’s stock worth $16,676,000 after acquiring an additional 19,051 shares during the last quarter. Finally, Czech National Bank raised its position in Kenvue by 6.9% in the third quarter. Czech National Bank now owns 390,139 shares of the company’s stock valued at $9,024,000 after purchasing an additional 25,253 shares during the period. Institutional investors and hedge funds 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.