Citigroup Cuts Kenvue (NYSE:KVUE) Price Target to $21.00

Kenvue (NYSE:KVUE) had its price objective reduced by Citigroup from $25.00 to $21.00 in a research report released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $26.00 in a report on Monday, January 6th. Barclays upgraded shares of Kenvue to a “hold” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.18.

Kenvue Stock Performance

Shares of KVUE stock opened at $20.83 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market capitalization of $39.94 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The company’s 50 day moving average price is $22.50 and its two-hundred day moving average price is $21.64. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.46.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. On average, analysts expect that Kenvue will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently made changes to their positions in KVUE. State Street Corp grew its stake in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after purchasing an additional 7,115,374 shares during the period. Holocene Advisors LP boosted its position in Kenvue by 75.5% during the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock worth $321,194,000 after purchasing an additional 5,975,392 shares during the period. M&G PLC boosted its position in Kenvue by 538.0% during the third quarter. M&G PLC now owns 4,341,172 shares of the company’s stock worth $99,847,000 after purchasing an additional 3,660,730 shares during the period. Finally, FMR LLC boosted its position in Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. 97.64% of the stock is owned by institutional investors.

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.