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

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

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Barclays reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. UBS Group lowered their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Citigroup reduced their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.75.

Kenvue Price Performance

Kenvue stock traded down $0.38 during mid-day trading on Wednesday, reaching $23.05. The company had a trading volume of 17,264,155 shares, compared to its average volume of 14,530,401. The stock’s 50-day simple moving average is $21.54 and its 200-day simple moving average is $22.30. Kenvue has a 1 year low of $17.67 and a 1 year high of $24.46. 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 company has a market capitalization of $44.04 billion, a P/E ratio of 43.48, a P/E/G ratio of 2.62 and a beta of 1.45.

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

Institutional Investors Weigh In On Kenvue

Several large investors have recently made changes to their positions in the business. Alerus Financial NA increased its holdings in Kenvue by 0.3% in the 3rd quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after purchasing an additional 491 shares in the last quarter. Kiley Juergens Wealth Management LLC grew its stake in shares of Kenvue by 1.9% in the fourth quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock valued at $579,000 after buying an additional 500 shares in the last quarter. Principle Wealth Partners LLC raised its holdings in shares of Kenvue by 3.7% during the 4th quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock valued at $303,000 after buying an additional 500 shares during the period. White Pine Capital LLC raised its holdings in shares of Kenvue by 1.0% during the 4th quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after buying an additional 542 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its position in Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after acquiring an additional 568 shares in 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.