Evercore ISI Initiates Coverage on Kenvue (NYSE:KVUE)

Analysts at Evercore ISI assumed coverage on shares of Kenvue (NYSE:KVUE) in a research note issued on Monday,Benzinga reports. The firm set an “in-line” rating and a $25.00 price target on the stock. Evercore ISI’s price objective indicates a potential upside of 7.11% from the company’s current price.

KVUE has been the topic of a number of other research reports. Citigroup lowered their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Barclays decreased their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.85.

Kenvue Stock Performance

KVUE stock opened at $23.34 on Monday. The firm has a 50 day moving average of $22.08 and a two-hundred day moving average of $22.43. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a market capitalization of $44.61 billion, a price-to-earnings ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KVUE. Grove Bank & Trust lifted its stake in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. bought a new position in Kenvue during the fourth quarter valued at about $29,000. SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after acquiring an additional 571 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares in the last quarter. 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.