Kenvue (NYSE:KVUE) Upgraded by Piper Sandler to Overweight Rating

Kenvue (NYSE:KVUE) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $26.00 price objective on the stock, up from their previous price objective of $21.00. Piper Sandler’s price objective suggests a potential upside of 23.63% from the stock’s current price.

A number of other research firms have also recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Barclays raised shares of Kenvue to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Performance

KVUE stock opened at $21.03 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue has a twelve month low of $17.67 and a twelve month high of $24.46. The business’s fifty day moving average is $22.77 and its 200-day moving average is $21.54. The company has a market cap of $40.32 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 EPS. Equities research analysts forecast that Kenvue will post 1.07 EPS for the current year.

Institutional Investors Weigh In On Kenvue

Several institutional investors and hedge funds have recently made changes to their positions in KVUE. Leo Wealth LLC boosted its holdings in Kenvue by 0.3% in the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock valued at $3,507,000 after acquiring an additional 481 shares during the last quarter. Alerus Financial NA boosted its stake in shares of Kenvue by 0.3% in the 3rd quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after purchasing an additional 491 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Kenvue by 6.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after buying an additional 492 shares during the period. Wolff Wiese Magana LLC raised its stake in Kenvue by 0.7% during the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after buying an additional 501 shares during the last quarter. Finally, Marathon Capital Management lifted its holdings in Kenvue by 0.3% in the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after buying an additional 514 shares during the period. Institutional investors and hedge funds 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.