Edward Jones Downgrades Kenvue (NYSE:KVUE) to Hold

Kenvue (NYSE:KVUE) was downgraded by Edward Jones from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Zacks Research raised Kenvue to a “strong sell” rating in a report on Monday, August 11th. Citigroup reduced their price objective on shares of Kenvue from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Redburn Partners set a $22.00 price target on shares of Kenvue in a research note on Friday, September 26th. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Kenvue in a research note on Friday, October 24th. Finally, Rothschild Redb upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.17.

Kenvue Stock Up 12.6%

Shares of Kenvue stock opened at $16.18 on Monday. The stock has a market capitalization of $31.06 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.07 and a beta of 0.71. Kenvue has a twelve month low of $14.02 and a twelve month high of $25.17. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $17.11 and its 200-day simple moving average is $20.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts forecast that Kenvue will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. acquired a new position in shares of Kenvue in the 1st quarter worth $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Kenvue during the first quarter valued at $36,000. Truvestments Capital LLC acquired a new position in shares of Kenvue in the 1st quarter valued at $37,000. NBT Bank N A NY increased its stake in Kenvue by 180.3% in the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock worth $25,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Kenvue during the 3rd quarter worth about $25,000. 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.