Citigroup Lowers Kenvue (NYSE:KVUE) Price Target to $21.00

Kenvue (NYSE:KVUE - Get Free Report) had its price objective reduced by stock analysts at Citigroup from $25.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price target points to a potential downside of 0.99% from the company's previous close.

KVUE has been the topic of several other reports. Bank of America boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Barclays raised Kenvue to a "hold" rating in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday, September 24th. They issued a "buy" rating and a $27.00 target price on the stock. Royal Bank of Canada raised Kenvue from a "hold" rating to a "moderate buy" rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Kenvue currently has a consensus rating of "Hold" and an average price target of $23.27.

Kenvue Stock Up 1.7 %

Kenvue stock traded up $0.36 during midday trading on Wednesday, hitting $21.21. 8,809,814 shares of the company were exchanged, compared to its average volume of 9,135,354. The company's fifty day moving average price is $22.50 and its 200-day moving average price is $21.64. The company has a market cap of $40.66 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, research analysts predict that Kenvue will post 1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Several large investors have recently added to or reduced their stakes in KVUE. State Street Corp increased its position in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA increased its position in Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the period. Holocene Advisors LP increased its position in Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock worth $321,194,000 after buying an additional 5,975,392 shares during the period. M&G PLC increased its position in Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company's stock worth $99,847,000 after buying an additional 3,660,730 shares during the period. Finally, FMR LLC increased its position in Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company's stock worth $3,189,985,000 after buying an additional 3,075,019 shares during the period. 97.64% of the stock is 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.