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

Kenvue (NYSE:KVUE - Get Free Report) had its price objective lifted by research analysts at Canaccord Genuity Group from $24.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 23.64% from the stock's current price.

Several other brokerages also recently commented on KVUE. Citigroup reduced their target price on shares of Kenvue from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Barclays cut their price objective on shares of Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Royal Bank of Canada reissued a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. UBS Group cut their price objective on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a "buy" rating to a "hold" rating and cut their price objective for the company from $25.00 to $24.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $23.75.

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Kenvue Stock Performance

Shares of KVUE stock traded up $0.28 during midday trading on Wednesday, hitting $23.46. 14,446,280 shares of the company were exchanged, compared to its average volume of 14,553,627. The firm has a market capitalization of $44.83 billion, a P/E ratio of 44.25, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The firm's 50 day moving average price is $21.64 and its two-hundred day moving average price is $22.33. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, equities research analysts anticipate 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 made changes to their positions in KVUE. National Pension Service raised its position in shares of Kenvue by 14.5% in the 3rd quarter. National Pension Service now owns 2,829,772 shares of the company's stock valued at $65,453,000 after buying an additional 357,672 shares in the last quarter. HF Advisory Group LLC increased its position in Kenvue by 15.4% during the 3rd quarter. HF Advisory Group LLC now owns 110,205 shares of the company's stock worth $2,549,000 after purchasing an additional 14,686 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Kenvue by 131.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 53,517 shares of the company's stock worth $1,238,000 after purchasing an additional 30,438 shares in the last quarter. M&G PLC increased its position in Kenvue by 538.0% during the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company's stock worth $99,847,000 after purchasing an additional 3,660,730 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC acquired a new position in Kenvue during the 3rd quarter worth approximately $370,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.