Kenvue (NYSE:KVUE) Price Target Raised to $24.00 at JPMorgan Chase & Co.

Kenvue (NYSE:KVUE) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 15.00% from the company’s current price.

KVUE has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, July 25th. HSBC increased their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Performance

NYSE:KVUE traded up $0.01 during midday trading on Wednesday, hitting $20.87. The company’s stock had a trading volume of 11,880,410 shares, compared to its average volume of 19,194,174. The company has a debt-to-equity ratio of 0.66, 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 $24.10. The firm’s 50 day moving average is $18.47 and its 200-day moving average is $19.41. The firm has a market cap of $39.96 billion, a P/E ratio of 26.82, a P/E/G ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that Kenvue will post 1.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Several hedge funds have recently made changes to their positions in KVUE. Manchester Capital Management LLC grew its stake in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in Kenvue in the 4th quarter valued at $28,000. Mather Group LLC. acquired a new position in Kenvue in the 1st quarter valued at $28,000. Oakworth Capital Inc. acquired a new position in Kenvue in the 1st quarter valued at $31,000. Finally, Riverview Trust Co purchased a new position in Kenvue during the 1st quarter worth $33,000. 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.