Kenvue (NYSE:KVUE) Stock Rating Upgraded by Piper Sandler

Kenvue (NYSE:KVUE) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $26.00 target price on the stock, up from their previous target price of $21.00. Piper Sandler’s price target suggests a potential upside of 23.63% from the stock’s current price.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. raised their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group started coverage on Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Barclays raised Kenvue to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kenvue has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Performance

KVUE stock opened at $21.03 on Monday. The firm has a market cap of $40.32 billion, a P/E ratio of 38.24, a P/E/G ratio of 2.02 and a beta of 1.46. The stock’s 50 day simple moving average is $22.77 and its 200 day simple moving average is $21.54. 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 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly 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 business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities research analysts predict 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 the company. Riverview Trust Co bought a new stake in Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Kenvue during the third quarter worth $35,000. Versant Capital Management Inc grew its holdings in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares in the last quarter. Finally, Studio Investment Management LLC raised its holdings in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.