Evercore ISI Has Lowered Expectations for Kenvue (NYSE:KVUE) Stock Price

Key Points

• Evercore ISI has lowered its price target for Kenvue (NYSE:KVUE) from $23.00 to $18.00, indicating a potential upside of 6.11% from the current price.
• Multiple research firms have adjusted their price targets for Kenvue, with a consensus rating of "Hold" and an average target price of $23.63.
• Kenvue's latest quarterly earnings showed a 4% decline in revenue year-over-year, reporting $3.84 billion compared to estimated $3.94 billion.

Kenvue (NYSE:KVUE - Get Free Report) had its price target decreased by stock analysts at Evercore ISI from $23.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price target suggests a potential upside of 6.11% from the stock's current price.

Several other research firms also recently issued reports on KVUE. JPMorgan Chase & Co. decreased their price objective on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Barclays cut their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Citigroup reaffirmed a "neutral" rating on shares of Kenvue in a research note on Tuesday. Canaccord Genuity Group reduced their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Bank of America reduced their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $23.63.

Kenvue Stock Down 7.5%

Shares of NYSE:KVUE opened at $16.96 on Tuesday. The business has a 50-day moving average price of $20.77 and a 200 day moving average price of $22.00. Kenvue has a 12-month low of $16.89 and a 12-month high of $25.17. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $32.55 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.63 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the business posted $0.32 earnings per share. The company's quarterly revenue was down 4.0% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Sell-side analysts expect that Kenvue will post 1.14 EPS for the current year.

Institutional Investors Weigh In On Kenvue

Hedge funds and other institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its holdings in Kenvue by 11.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 16,429 shares of the company's stock worth $344,000 after acquiring an additional 1,688 shares during the last quarter. V. M. Manning & CO. Inc. purchased a new stake in shares of Kenvue in the second quarter worth $377,000. Q3 Asset Management purchased a new position in Kenvue in the 2nd quarter worth approximately $284,000. Orion Porfolio Solutions LLC boosted its stake in Kenvue by 30.4% in the second quarter. Orion Porfolio Solutions LLC now owns 283,590 shares of the company's stock worth $5,936,000 after buying an additional 66,112 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Kenvue by 1.2% in the second quarter. Thrivent Financial for Lutherans now owns 4,334,820 shares of the company's stock worth $90,727,000 after purchasing an additional 49,427 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

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.

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