Kenvue (NYSE:KVUE) Given “Sector Perform” Rating at Royal Bank of Canada

Kenvue (NYSE:KVUE)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a report released on Monday,Benzinga reports. They currently have a $24.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.34% from the stock’s previous close.

KVUE has been the subject of several other research reports. Bank of America boosted their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $26.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, Barclays lowered their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.08.

Kenvue Price Performance

Shares of NYSE:KVUE traded down $0.12 during midday trading on Monday, hitting $21.18. 1,935,357 shares of the stock were exchanged, compared to its average volume of 11,270,419. The stock has a market cap of $40.60 billion, a P/E ratio of 38.52, a PEG ratio of 2.05 and a beta of 1.45. 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 twelve month low of $17.67 and a twelve month high of $24.46. The company has a 50 day moving average price of $21.90 and a 200-day moving average price of $21.92.

Kenvue (NYSE:KVUE) last released its quarterly 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. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 EPS. On average, research analysts forecast that Kenvue will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently bought and sold shares of KVUE. Grove Bank & Trust lifted its position in Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Kenvue during the 4th quarter worth approximately $29,000. Riverview Trust Co acquired a new position in Kenvue during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC lifted its position in Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Kenvue during the 3rd quarter worth approximately $35,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.