Kenvue (NYSE:KVUE) Given “Sector Perform” Rating at Royal Bank of Canada

Kenvue (NYSE:KVUE)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $24.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 13.34% from the company’s current price.

A number of other brokerages have also recently issued reports on KVUE. UBS Group reduced their price objective on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and raised their target price for the company from $21.00 to $26.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Finally, Barclays cut their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.08.

Kenvue Stock Performance

Kenvue stock traded down $0.12 during midday trading on Monday, reaching $21.18. 1,935,357 shares of the company traded hands, compared to its average volume of 11,270,419. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 2.05 and a beta of 1.45. The business has a 50 day moving average of $21.90 and a two-hundred day moving average of $21.92. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Kenvue will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Grove Bank & Trust grew its position in Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Kenvue during the 4th quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in Kenvue during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC grew its position in Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after purchasing an additional 777 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Kenvue during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.