Kenvue (NYSE:KVUE) Price Target Lowered to $17.00 at Citigroup

Key Points

• Citigroup has lowered its price target for Kenvue (NYSE:KVUE) from $20.00 to $17.00, maintaining a "neutral" rating on the stock, which allows for a potential upside of 2.75% from its previous close.
• Other analysts have also adjusted their targets, with JPMorgan reducing their price target to $26.00 and Goldman Sachs to $19.00, while Kenvue’s average price target now stands at $21.54.
• In its latest earnings report, Kenvue reported a year-over-year revenue decrease of 4.0%, though it beat earnings per share estimates by $0.01.

Kenvue (NYSE:KVUE - Get Free Report) had its price objective reduced by analysts at Citigroup from $20.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target points to a potential upside of 2.75% from the stock's previous close.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. The Goldman Sachs Group cut their price target on shares of Kenvue from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, October 2nd. Zacks Research upgraded shares of Kenvue to a "strong sell" rating in a report on Monday, August 11th. Rothschild & Co Redburn upgraded shares of Kenvue from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $22.50 to $22.00 in a report on Friday, September 26th. Finally, Evercore ISI dropped their target price on shares of Kenvue from $23.00 to $18.00 and set an "in-line" rating on the stock in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $21.54.

Kenvue Trading Up 2.9%

Shares of KVUE traded up $0.47 during midday trading on Thursday, hitting $16.55. The stock had a trading volume of 12,662,231 shares, compared to its average volume of 20,305,611. The stock's 50 day moving average is $19.34 and its 200 day moving average is $21.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. The firm has a market cap of $31.75 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 2.33 and a beta of 0.72. Kenvue has a 1 year low of $15.47 and a 1 year high of $25.17.

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

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Kenvue by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company's stock valued at $4,881,844,000 after purchasing an additional 4,101,880 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Kenvue by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 49,001,887 shares of the company's stock valued at $1,021,267,000 after purchasing an additional 604,953 shares during the last quarter. Independent Franchise Partners LLP raised its position in shares of Kenvue by 233.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company's stock valued at $654,388,000 after purchasing an additional 21,886,537 shares during the last quarter. American Century Companies Inc. raised its position in shares of Kenvue by 38.6% in the 2nd quarter. American Century Companies Inc. now owns 30,265,020 shares of the company's stock valued at $633,447,000 after purchasing an additional 8,436,166 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Kenvue in the 2nd quarter valued at approximately $537,418,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.