Canaccord Genuity Group Forecasts Strong Price Appreciation for Kenvue (NYSE:KVUE) Stock

Kenvue (NYSE:KVUE) had its price target increased by Canaccord Genuity Group from $24.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 25.84% from the stock’s current price.

KVUE has been the subject of several other research reports. Barclays cut their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. UBS Group reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $24.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average price target of $23.75.

Kenvue Price Performance

KVUE stock traded down $0.38 during midday trading on Wednesday, reaching $23.05. The stock had a trading volume of 17,264,155 shares, compared to its average volume of 14,530,401. The company’s fifty day simple moving average is $21.54 and its 200 day simple moving average is $22.30. The company has a market cap of $44.04 billion, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue has a 52-week low of $17.67 and a 52-week high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, sell-side analysts predict that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. National Pension Service boosted its stake in shares of Kenvue by 14.5% during the third quarter. National Pension Service now owns 2,829,772 shares of the company’s stock worth $65,453,000 after buying an additional 357,672 shares during the period. HF Advisory Group LLC lifted its position in Kenvue by 15.4% during the 3rd quarter. HF Advisory Group LLC now owns 110,205 shares of the company’s stock worth $2,549,000 after acquiring an additional 14,686 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Kenvue by 131.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 53,517 shares of the company’s stock valued at $1,238,000 after purchasing an additional 30,438 shares during the last quarter. M&G PLC increased its holdings in shares of Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after purchasing an additional 3,660,730 shares during the period. Finally, Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of Kenvue in the third quarter valued at approximately $370,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.