Barclays Forecasts Strong Price Appreciation for Kenvue (NYSE:KVUE) Stock

Kenvue (NYSE:KVUE) had its target price increased by investment analysts at Barclays from $22.00 to $23.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential downside of 2.79% from the company’s current price.

A number of other research firms have also commented on KVUE. Canaccord Genuity Group increased their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Redburn Atlantic began coverage on Kenvue in a research note on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price objective for the company. Piper Sandler upped their price objective on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. UBS Group upped their price objective on Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Citigroup increased their price target on Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.33.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $23.66 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue has a twelve month low of $17.67 and a twelve month high of $25.17. The stock’s 50 day moving average is $23.15 and its 200-day moving average is $22.57. The firm has a market capitalization of $45.40 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. Sell-side analysts forecast that Kenvue will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Large investors have recently modified their holdings of the company. Allen Wealth Management LLC grew its position in shares of Kenvue by 1.3% in the 1st quarter. Allen Wealth Management LLC now owns 83,647 shares of the company’s stock worth $2,006,000 after buying an additional 1,088 shares during the last quarter. Northern Trust Corp grew its position in shares of Kenvue by 2.1% in the 1st quarter. Northern Trust Corp now owns 21,384,861 shares of the company’s stock worth $512,809,000 after buying an additional 436,157 shares during the last quarter. Brooklyn Investment Group grew its position in shares of Kenvue by 25.4% in the 1st quarter. Brooklyn Investment Group now owns 5,319 shares of the company’s stock worth $128,000 after buying an additional 1,076 shares during the last quarter. Prospector Partners LLC bought a new stake in shares of Kenvue in the 1st quarter worth approximately $13,860,000. Finally, Mill Creek Capital Advisors LLC grew its position in shares of Kenvue by 0.8% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 120,128 shares of the company’s stock worth $2,881,000 after buying an additional 965 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.