Canaccord Genuity Group Lowers Kenvue (NYSE:KVUE) Price Target to $24.00

Kenvue (NYSE:KVUE) had its price objective dropped by stock analysts at Canaccord Genuity Group from $27.00 to $24.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 19.55% from the company’s current price.

KVUE has been the subject of a number of other research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday. Barclays lowered 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. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $26.00 in a research note on Monday, January 6th. Citigroup lowered their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group lowered their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average target price of $23.00.

Kenvue Stock Performance

Shares of KVUE traded up $0.28 on Friday, reaching $20.08. 9,863,493 shares of the company’s stock traded hands, compared to its average volume of 12,461,244. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market cap of $38.49 billion, a PE ratio of 36.48, a PEG ratio of 2.05 and a beta of 1.45. The stock’s 50 day simple moving average is $21.61 and its two-hundred day simple moving average is $21.93. Kenvue has a 52-week low of $17.67 and a 52-week high of $24.46.

Kenvue (NYSE:KVUE) last posted 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 return on equity of 21.43% and a net margin of 6.88%. On average, analysts forecast that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of Kenvue

Several hedge funds and other institutional investors have recently made changes to their positions in KVUE. Grove Bank & Trust lifted its holdings in shares of Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after buying an additional 947 shares during the period. Riverview Trust Co purchased a new position in shares of Kenvue during the third quarter valued at approximately $30,000. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. boosted its position in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Kenvue during the third quarter valued at approximately $35,000. Hedge funds and other 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.