JPMorgan Chase & Co. Cuts Kenvue (NYSE:KVUE) Price Target to $21.00

Key Points

• JPMorgan Chase & Co. has lowered its target price for Kenvue (NYSE:KVUE) from $24.00 to $21.00, maintaining an "overweight" rating, which implies a potential upside of 24.35% based on the stock's previous close.
• Several other analysts have also revised their ratings and target prices for Kenvue, with Barclays setting a target of $17.00 and Goldman Sachs lowering it to $19.00, indicating mixed sentiment among financial institutions.
• Kenvue's recent earnings report showed a slight increase in EPS to $0.29, surpassing analysts' expectations, but revenue declined by 4.0% year-over-year, raising concerns about future performance.

Kenvue (NYSE:KVUE - Get Free Report) had its target price lowered by JPMorgan Chase & Co. from $24.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 24.35% from the company's previous close.

Other analysts have also issued reports about the company. Barclays dropped their target price on Kenvue from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 1st. Rothschild & Co Redburn raised Kenvue from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $22.50 to $22.00 in a report on Friday, September 26th. Royal Bank Of Canada lowered their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. The Goldman Sachs Group lowered their price objective on Kenvue from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, October 2nd. Finally, Canaccord Genuity Group lowered their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.18.

Kenvue Stock Up 0.3%

Shares of NYSE KVUE opened at $16.89 on Friday. Kenvue has a 1 year low of $15.47 and a 1 year high of $25.17. The firm has a market cap of $32.41 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The stock's 50-day simple moving average is $19.25 and its 200-day simple moving average is $21.38.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. As a group, equities analysts anticipate that Kenvue will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kenvue

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Kenvue by 1.8% during the second quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company's stock worth $4,881,844,000 after buying an additional 4,101,880 shares during the period. Geode Capital Management LLC boosted its position in shares of Kenvue by 1.2% during the second quarter. Geode Capital Management LLC now owns 49,001,887 shares of the company's stock worth $1,021,267,000 after buying an additional 604,953 shares during the period. Independent Franchise Partners LLP boosted its position in shares of Kenvue by 233.4% during the second quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company's stock worth $654,388,000 after buying an additional 21,886,537 shares during the period. American Century Companies Inc. boosted its position in shares of Kenvue by 38.6% during the second quarter. American Century Companies Inc. now owns 30,265,020 shares of the company's stock worth $633,447,000 after buying an additional 8,436,166 shares during the period. Finally, Norges Bank acquired a new position in shares of Kenvue during the second quarter worth approximately $537,418,000. 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.

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