Kenvue (NYSE:KVUE) Price Target Cut to $24.00 by Analysts at Canaccord Genuity Group

Kenvue (NYSE:KVUE - Get Free Report) had its target price decreased by research analysts at Canaccord Genuity Group from $27.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 14.67% from the stock's current price.

A number of other equities analysts have also recently commented on KVUE. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Citigroup dropped their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Barclays lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, Piper Sandler raised shares of Kenvue from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $23.00.

Kenvue Price Performance

Shares of Kenvue stock traded up $0.35 during trading hours on Friday, reaching $20.93. The company's stock had a trading volume of 10,921,780 shares, compared to its average volume of 12,761,109. The firm has a 50 day moving average price of $21.46 and a 200-day moving average price of $22.02. Kenvue has a one year low of $17.67 and a one year high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market cap of $40.13 billion, a P/E ratio of 39.49, a P/E/G ratio of 2.16 and a beta of 1.45.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, analysts predict that Kenvue will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Grove Bank & Trust raised its position in shares of Kenvue by 438.4% in 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. Riverview Trust Co bought a new position in shares of Kenvue in the 3rd quarter worth $30,000. Geneos Wealth Management Inc. bought a new position in shares of Kenvue in the 4th quarter worth $29,000. SRS Capital Advisors Inc. raised its position in shares of Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after acquiring an additional 571 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Kenvue in the 3rd quarter worth $35,000. 97.64% of the stock is 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.