Canaccord Genuity Group Has Lowered Expectations for Kenvue (NYSE:KVUE) Stock Price

Key Points

• Canaccord Genuity Group has reduced its price target for Kenvue's stock from $29.00 to $26.00, while maintaining a "buy" rating, suggesting a potential upside of 21.67% from its previous close.
• Multiple analysts have lowered their expectations for Kenvue, with Bank of America and Barclays adjusting their targets to $25.00 and $22.00, respectively, while the consensus rating is currently "Hold" with an average target price of $24.38.
• Kenvue's stock has declined by 1.8% to $21.37, reflecting a challenging financial quarter with a 4.0% year-over-year revenue decrease and a reported earnings per share of $0.29, slightly exceeding analyst expectations.

Kenvue (NYSE:KVUE - Get Free Report) had its price objective cut by analysts at Canaccord Genuity Group from $29.00 to $26.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target points to a potential upside of 21.67% from the stock's previous close.

KVUE has been the topic of a number of other reports. Bank of America lowered their target price on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Barclays reduced their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Royal Bank Of Canada reduced their price objective on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Finally, UBS Group reduced their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Kenvue currently has a consensus rating of "Hold" and an average target price of $24.38.

Kenvue Stock Down 1.8%

Shares of NYSE KVUE traded down $0.39 during midday trading on Friday, reaching $21.37. The company's stock had a trading volume of 25,925,023 shares, compared to its average volume of 17,645,215. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Kenvue has a fifty-two week low of $19.75 and a fifty-two week high of $25.17. The stock has a market capitalization of $41.00 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 3.59 and a beta of 0.83. The stock has a 50 day simple moving average of $21.67 and a 200-day simple moving average of $22.40.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. Equities research analysts predict that Kenvue will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its stake in Kenvue by 4.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company's stock worth $2,545,000 after acquiring an additional 4,034 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Kenvue by 25.3% in the first quarter. IFP Advisors Inc now owns 15,278 shares of the company's stock valued at $369,000 after buying an additional 3,081 shares during the period. Starboard Value LP acquired a new position in shares of Kenvue in the fourth quarter valued at approximately $467,864,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Kenvue in the first quarter valued at approximately $413,000. Finally, Cooper Investors PTY Ltd. increased its stake in shares of Kenvue by 39.7% in the first quarter. Cooper Investors PTY Ltd. now owns 858,076 shares of the company's stock valued at $20,577,000 after buying an additional 244,043 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

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.

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