Citigroup Forecasts Strong Price Appreciation for Kenvue (NYSE:KVUE) Stock

Kenvue (NYSE:KVUE) had its target price raised by equities research analysts at Citigroup from $21.00 to $22.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential downside of 3.08% from the company’s current price.

Several other research firms have also recently issued reports on KVUE. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Evercore ISI assumed coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 price target for the company. Barclays dropped their target price on Kenvue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday. Redburn Atlantic assumed coverage on Kenvue in a research note on Thursday. They issued a “neutral” rating and a $23.50 price objective on the stock. Finally, Canaccord Genuity Group lifted their target price on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.42.

Kenvue Stock Performance

KVUE traded up $0.61 during trading on Monday, reaching $22.70. 16,487,853 shares of the company were exchanged, compared to its average volume of 16,916,507. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.46. The stock has a market cap of $43.39 billion, a P/E ratio of 42.83, a PEG ratio of 2.62 and a beta of 1.02. 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 firm has a 50 day moving average of $22.65 and a 200 day moving average of $22.40.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, sell-side analysts forecast that Kenvue will post 1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Kenvue in the 4th quarter worth about $521,348,000. Starboard Value LP acquired a new stake in shares of Kenvue during the fourth quarter worth approximately $467,864,000. Franklin Resources Inc. increased its stake in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after buying an additional 16,269,721 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after buying an additional 10,682,003 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Kenvue by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after buying an additional 8,211,748 shares during the period. 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.