HSBC Increases Kenvue (NYSE:KVUE) Price Target to $21.00

Kenvue (NYSE:KVUE - Get Free Report) had its price target increased by analysts at HSBC from $20.00 to $21.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "hold" rating on the stock. HSBC's price objective points to a potential upside of 2.69% from the stock's current price.

Several other research firms also recently issued reports on KVUE. Royal Bank of Canada cut their price target on Kenvue from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, February 9th. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 9th. The Goldman Sachs Group started coverage on Kenvue in a research note on Friday, March 1st. They issued a "neutral" rating and a $20.00 target price for the company. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an "underperform" rating and a $18.00 price objective for the company. Finally, William Blair initiated coverage on Kenvue in a report on Wednesday, April 3rd. They issued a "market perform" rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $24.38.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $0.37 during midday trading on Wednesday, hitting $20.45. The company's stock had a trading volume of 23,642,579 shares, compared to its average volume of 17,121,814. The business's fifty day simple moving average is $19.87 and its two-hundred day simple moving average is $20.12. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue has a 1 year low of $17.82 and a 1 year high of $27.80.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.79 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company's revenue was down 24.9% on a year-over-year basis. Research analysts anticipate that Kenvue will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Kenvue

A number of institutional investors and hedge funds have recently modified their holdings of KVUE. Clearstead Advisors LLC acquired a new stake in Kenvue in the third quarter valued at approximately $25,000. Manchester Capital Management LLC increased its stake in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company's stock worth $25,000 after purchasing an additional 530 shares in the last quarter. Planned Solutions Inc. purchased a new position in Kenvue during the 4th quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new stake in shares of Kenvue during the 3rd quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Kenvue in the 3rd quarter worth about $28,000. 97.64% of the stock is owned by 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.