Kenvue (NYSE:KVUE) Price Target Increased to $24.00 by Analysts at JPMorgan Chase & Co.

Kenvue (NYSE:KVUE) had its price objective raised by JPMorgan Chase & Co. from $22.00 to $24.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.29% from the stock’s current price.

A number of other research analysts also recently commented on the company. Sanford C. Bernstein began coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. UBS Group boosted their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Stock Down 1.2 %

NYSE KVUE traded down $0.25 during mid-day trading on Wednesday, reaching $21.00. 1,152,667 shares of the company’s stock traded hands, compared to its average volume of 19,177,635. The company has a fifty day simple moving average of $18.53 and a 200-day simple moving average of $19.42. Kenvue has a 1-year low of $17.67 and a 1-year high of $24.10. The company has a market cap of $40.21 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 2.07 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts expect that Kenvue will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Kenvue

A number of institutional investors and hedge funds have recently modified their holdings of KVUE. Price T Rowe Associates Inc. MD raised its holdings in shares of Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Vanguard Group Inc. raised its stake in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Norges Bank purchased a new stake in shares of Kenvue in the fourth quarter valued at $282,100,000. Van ECK Associates Corp boosted its position in shares of Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after buying an additional 10,783,258 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after buying an additional 9,752,836 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.