JPMorgan Chase & Co. Cuts Kenvue (NYSE:KVUE) Price Target to $26.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Kenvue (NYSE:KVUE) from $27.00 to $26.00, maintaining an "overweight" rating, indicating a potential upside of 13.83% from the previous close.
• Other analysts have also reduced their price targets for Kenvue, with Bank of America setting a new target of $25.00 and Barclays at $22.00, reflecting a generally cautious outlook on the stock.
• Kenvue's stock has recent volatility, trading at $22.84, with a market cap of $43.82 billion and a reported quarterly revenue of $3.74 billion, down 3.9% year-over-year.

Kenvue (NYSE:KVUE - Get Free Report) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $27.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 13.83% from the company's previous close.

Several other research analysts have also commented on the stock. Bank of America dropped their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Barclays dropped their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Citigroup dropped their price target on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. UBS Group dropped their price target on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Finally, Redburn Atlantic started coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.79.

Kenvue Price Performance

KVUE stock traded up $0.34 on Friday, hitting $22.84. 9,354,880 shares of the company's stock traded hands, compared to its average volume of 17,220,215. Kenvue has a 1-year low of $18.10 and a 1-year high of $25.17. The stock has a market cap of $43.82 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 3.76 and a beta of 0.83. The stock has a fifty day moving average of $22.05 and a 200-day moving average of $22.33. 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 (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The business's quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts forecast that Kenvue will post 1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVUE. Pittenger & Anderson Inc. bought a new position in shares of Kenvue in the 1st quarter valued at about $30,000. Trust Co. of Vermont boosted its stake in shares of Kenvue by 266.8% in the 2nd quarter. Trust Co. of Vermont now owns 1,581 shares of the company's stock valued at $33,000 after purchasing an additional 1,150 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Kenvue in the 1st quarter valued at about $36,000. Truvestments Capital LLC bought a new position in Kenvue during the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after acquiring an additional 1,287 shares during the last quarter. Institutional investors and hedge funds 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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