Kenvue (NYSE:KVUE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Kenvue (NYSE:KVUE) had its price target hoisted by equities researchers at Canaccord Genuity Group from $24.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 25.13% from the company’s current price.

KVUE has been the subject of several other research reports. Piper Sandler upped their price target on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Barclays dropped their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Citigroup dropped their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $23.75.

Kenvue Trading Up 0.6 %

Kenvue stock opened at $23.18 on Wednesday. The business has a 50 day moving average price of $21.60 and a two-hundred day moving average price of $22.31. 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 stock has a market cap of $44.29 billion, a price-to-earnings ratio of 43.73, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, equities analysts forecast that Kenvue will post 1.14 EPS for the current year.

Institutional Investors Weigh In On Kenvue

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after buying an additional 8,211,748 shares during the last quarter. Vanguard Group Inc. boosted its position in Kenvue by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock valued at $4,665,908,000 after buying an additional 1,636,741 shares during the last quarter. FMR LLC boosted its position in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. State Street Corp boosted its position in Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after buying an additional 10,682,003 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

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.