Citigroup Lowers Kenvue (NYSE:KVUE) Price Target to $22.00

Kenvue (NYSE:KVUE) had its target price decreased by research analysts at Citigroup from $24.50 to $22.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 0.71% from the stock’s current price.

A number of other research analysts have also commented on the company. Barclays cut their target price on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday. Bank of America decreased their price target on Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Redburn Atlantic began coverage on Kenvue in a research note on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price on the stock. UBS Group increased their target price on Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Evercore ISI assumed coverage on Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $24.88.

Kenvue Trading Up 2.1%

Shares of NYSE KVUE opened at $21.85 on Tuesday. The business has a 50 day simple moving average of $22.24 and a 200 day simple moving average of $22.29. Kenvue has a 52 week low of $17.85 and a 52 week high of $25.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $41.91 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 3.33 and a beta of 0.83.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company earned $0.28 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts predict that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Evergreen Wealth Solutions LLC raised its holdings in shares of Kenvue by 2.6% during the first quarter. Evergreen Wealth Solutions LLC now owns 16,769 shares of the company’s stock worth $402,000 after purchasing an additional 432 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of Kenvue by 0.6% during the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company’s stock worth $1,892,000 after purchasing an additional 465 shares in the last quarter. Scott & Selber Inc. boosted its position in Kenvue by 0.4% during the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company’s stock worth $2,557,000 after acquiring an additional 475 shares during the last quarter. Wealth Alliance LLC boosted its position in Kenvue by 1.6% during the first quarter. Wealth Alliance LLC now owns 31,778 shares of the company’s stock worth $762,000 after acquiring an additional 486 shares during the last quarter. Finally, Everett Harris & Co. CA boosted its holdings in Kenvue by 1.4% in the 1st quarter. Everett Harris & Co. CA now owns 36,971 shares of the company’s stock valued at $887,000 after purchasing an additional 500 shares during the last quarter. 97.64% of the stock is currently 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.