Kenvue (NYSE:KVUE) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Kenvue from a “strong-buy” to a “hold,” adding to a generally cautious analyst view on the stock.
• Other firms have also been conservative on KVUE, with several recent price target cuts and a consensus rating of “Hold” and average target price of $19.33.
• Kenvue’s latest quarter beat expectations, posting EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, even as the stock was down 2.5% in Tuesday trading.

Kenvue (NYSE:KVUE - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on KVUE. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Citigroup dropped their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 15th. UBS Group cut their price target on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Finally, Barclays decreased their price target on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus target price of $19.33.

Kenvue Stock Down 2.5%

NYSE KVUE opened at $19.28 on Tuesday. The stock's 50-day moving average price is $17.98 and its 200-day moving average price is $17.76. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Kenvue has a 52 week low of $14.02 and a 52 week high of $22.87. The company has a market capitalization of $37.01 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.50 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. On average, equities research analysts predict that Kenvue will post 1.16 earnings per share for the current year.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.59% of the company's stock.

Institutional Investors Weigh In On Kenvue

Several large investors have recently made changes to their positions in KVUE. Arrowstreet Capital Limited Partnership purchased a new position in Kenvue during the 2nd quarter valued at approximately $6,528,000. Jump Financial LLC boosted its position in shares of Kenvue by 210.6% during the 2nd quarter. Jump Financial LLC now owns 54,823 shares of the company's stock valued at $1,147,000 after acquiring an additional 37,170 shares during the last quarter. AXA S.A. raised its stake in Kenvue by 21.1% during the second quarter. AXA S.A. now owns 48,892 shares of the company's stock valued at $1,023,000 after purchasing an additional 8,524 shares in the last quarter. NewEdge Advisors LLC lifted its position in Kenvue by 219.1% during the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company's stock valued at $2,040,000 after purchasing an additional 66,930 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Kenvue by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company's stock valued at $39,217,000 after purchasing an additional 10,885 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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