Kenvue (NYSE:KVUE) Price Target Cut to $22.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has cut Kenvue's price target from $24.00 to $22.00, indicating a potential upside of only 3.17% from its current stock price.
• Multiple analysts have revised their ratings on Kenvue, with 7 providing a "hold" rating and 5 issuing "buy" ratings, resulting in a consensus target price of $24.63.
• Kenvue's recent earnings report showed a slight increase in earnings per share to $0.29, despite a 4% decline in revenue compared to the prior year.

Kenvue (NYSE:KVUE - Get Free Report) had its price objective decreased by research analysts at Royal Bank Of Canada from $24.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 3.17% from the company's current price.

A number of other equities research analysts also recently commented on the company. Redburn Atlantic began coverage on Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Barclays cut their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Bank of America dropped their price target on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lowered their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Finally, Citigroup lowered their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $24.63.

Kenvue Trading Down 2.0%

KVUE traded down $0.44 during trading on Friday, reaching $21.33. The company had a trading volume of 10,589,044 shares, compared to its average volume of 17,536,846. The stock has a market cap of $40.92 billion, a P/E ratio of 38.76, a PEG ratio of 3.59 and a beta of 0.83. The business has a 50 day simple moving average of $21.67 and a 200-day simple moving average of $22.40. Kenvue has a 52 week low of $19.75 and a 52 week high of $25.17. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

Kenvue (NYSE:KVUE - Get Free Report) last released 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 analyst estimates of $3.94 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business's revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. On average, equities analysts anticipate that Kenvue will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pittenger & Anderson Inc. acquired a new stake in shares of Kenvue during the 1st quarter valued at $30,000. Trust Co. of Vermont grew its position in shares of Kenvue by 266.8% in the second 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 acquired a new stake in shares of Kenvue in the first quarter valued at about $36,000. Truvestments Capital LLC bought a new stake in shares of Kenvue in the first quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Kenvue by 378.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after purchasing an additional 1,287 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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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