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

Kenvue (NYSE:KVUE) had its price objective lifted by investment analysts at Citigroup from $21.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential downside of 3.08% from the company’s current price.

Other research analysts have also issued reports about the stock. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Evercore ISI started coverage on Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price target on the stock. UBS Group reduced their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Redburn Atlantic initiated coverage on Kenvue in a report on Thursday. They issued a “neutral” rating and a $23.50 target price on the stock. Finally, Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus target price of $24.42.

Kenvue Stock Performance

KVUE traded up $0.61 during trading on Monday, reaching $22.70. The company’s stock had a trading volume of 16,487,853 shares, compared to its average volume of 16,916,507. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company’s fifty day moving average price is $22.65 and its 200-day moving average price is $22.40. Kenvue has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market capitalization of $43.39 billion, a price-to-earnings ratio of 42.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, equities analysts forecast that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Hedge funds have recently modified their holdings of the stock. Grove Bank & Trust grew its position in Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue in the fourth quarter valued at $29,000. SRS Capital Advisors Inc. grew its holdings in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC increased its stake 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 buying an additional 777 shares during the period. Finally, Versant Capital Management Inc boosted its position in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the last quarter. 97.64% of the stock is currently 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.