Kenvue (NYSE:KVUE) Earns “Outperform” Rating from Royal Bank of Canada

Kenvue (NYSE:KVUE)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $24.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 15.00% from the company’s previous close.

Several other brokerages have also weighed in on KVUE. UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday. HSBC increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Citigroup cut their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Trading Up 0.0 %

NYSE KVUE traded up $0.01 on Wednesday, reaching $20.87. 11,880,410 shares of the company were exchanged, compared to its average volume of 19,194,174. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.10. The business’s fifty day moving average price is $18.47 and its 200 day moving average price is $19.41. The stock has a market capitalization of $39.96 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts forecast that Kenvue will post 1.13 earnings per share for the current year.

Institutional Investors Weigh In On Kenvue

A number of large investors have recently modified their holdings of KVUE. Daiwa Securities Group Inc. increased its holdings in shares of Kenvue by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 229,519 shares of the company’s stock valued at $4,172,000 after acquiring an additional 31,865 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Kenvue in the second quarter valued at approximately $388,000. Dorsey & Whitney Trust CO LLC increased its stake in Kenvue by 42.5% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 25,502 shares of the company’s stock valued at $464,000 after purchasing an additional 7,603 shares during the last quarter. Global X Japan Co. Ltd. raised its holdings in Kenvue by 8.2% during the second quarter. Global X Japan Co. Ltd. now owns 21,904 shares of the company’s stock worth $398,000 after purchasing an additional 1,668 shares in the last quarter. Finally, Choreo LLC acquired a new stake in Kenvue during the second quarter worth approximately $925,000. 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.