Deutsche Bank Aktiengesellschaft Cuts Kenvue (NYSE:KVUE) Price Target to $23.00

Kenvue (NYSE:KVUE) had its target price decreased by equities researchers at Deutsche Bank Aktiengesellschaft from $24.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 25.00% from the company’s previous close.

KVUE has been the subject of a number of other research reports. HSBC boosted their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Citigroup lowered their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday. Finally, William Blair started coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.45.

Kenvue Price Performance

KVUE stock traded up $0.23 during mid-day trading on Thursday, hitting $18.40. 3,939,111 shares of the stock were exchanged, compared to its average volume of 19,042,350. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The business has a fifty day moving average price of $18.67 and a 200 day moving average price of $19.59. Kenvue has a 12 month low of $17.67 and a 12 month high of $25.23. The stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.97 and a beta of 1.40.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, sell-side analysts anticipate that Kenvue will post 1.13 EPS for the current year.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC lifted its holdings in shares of Kenvue by 80.8% during the 1st 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 period. Planned Solutions Inc. purchased a new stake in shares of Kenvue in the 4th quarter worth $27,000. Mather Group LLC. purchased a new stake in shares of Kenvue in the 1st quarter worth $28,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Kenvue in the 4th quarter worth $28,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Kenvue in the 1st quarter worth $31,000. 97.64% of the stock is 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.