Bank of America Increases Kenvue (NYSE:KVUE) Price Target to $27.00

Kenvue (NYSE:KVUE) had its price objective upped by stock analysts at Bank of America from $24.00 to $27.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 18.68% from the company’s current price.

Several other brokerages also recently commented on KVUE. Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. UBS Group increased 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, Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Stock Performance

Shares of KVUE stock opened at $22.75 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $22.36 and a two-hundred day simple moving average of $20.26. Kenvue has a 12 month low of $17.67 and a 12 month high of $23.55. The firm has a market capitalization of $43.56 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.76 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue was down .3% on a year-over-year basis. Analysts forecast that Kenvue will post 1.08 EPS for the current fiscal year.

Institutional Trading of Kenvue

Several hedge funds have recently made changes to their positions in KVUE. Manchester Capital Management LLC increased its holdings in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Kenvue in the third quarter worth about $30,000. Mather Group LLC. bought a new stake in shares of Kenvue in the first quarter valued at approximately $28,000. MV Capital Management Inc. raised its position in shares of Kenvue by 71.2% in the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Kenvue during the 1st quarter valued at approximately $33,000. 97.64% of the stock is currently 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.