Kenvue (NYSE:KVUE) Raised to Moderate Buy at Royal Bank of Canada

Kenvue (NYSE:KVUE) was upgraded by research analysts at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on KVUE. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Piper Sandler boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Bank of America increased their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

Kenvue stock opened at $22.74 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market capitalization of $43.60 billion, a P/E ratio of 41.35, a P/E/G ratio of 2.07 and a beta of 1.37. The firm’s 50-day moving average is $22.96 and its two-hundred day moving average is $21.15. Kenvue has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $3.90 billion during 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%. Kenvue’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. Equities analysts predict that Kenvue will post 1.07 earnings per share for the current year.

Hedge Funds Weigh In On Kenvue

A number of institutional investors and hedge funds have recently bought and sold shares of KVUE. FMR LLC boosted its position in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. State Street Corp increased its holdings in Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 8.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kenvue by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after buying an additional 399,846 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares in the last quarter. 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.