UBS Group Cuts Kenvue (NYSE:KVUE) Price Target to $23.00

Kenvue (NYSE:KVUE) had its target price decreased by UBS Group from $25.00 to $23.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other analysts have also issued reports on the company. Citigroup lowered their price target on Kenvue from $24.50 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Redburn Atlantic began coverage on Kenvue in a research note on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price target on the stock. Bank of America lowered their price target on Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Barclays lowered their price target on Kenvue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Finally, Evercore ISI started coverage on Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective on the stock. 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, the company currently has a consensus rating of “Hold” and an average price target of $24.71.

Kenvue Stock Up 0.7%

Shares of KVUE stock opened at $22.00 on Thursday. The stock has a 50 day moving average of $22.15 and a 200 day moving average of $22.30. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The stock has a market cap of $42.21 billion, a P/E ratio of 40.00, a P/E/G ratio of 3.43 and a beta of 0.83. Kenvue has a twelve month low of $17.85 and a twelve month high of $25.17.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating 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 company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the business earned $0.28 earnings per share. Kenvue’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KVUE. Pittenger & Anderson Inc. acquired a new stake in shares of Kenvue in the 1st quarter valued at about $30,000. Trust Co. of Vermont boosted its position in shares of Kenvue by 266.8% in the 2nd quarter. Trust Co. of Vermont now owns 1,581 shares of the company’s stock valued at $33,000 after purchasing an additional 1,150 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Kenvue in the 1st quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in Kenvue during the 1st quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company’s stock valued at $39,000 after acquiring an additional 1,287 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.