Piper Sandler Issues Positive Forecast for Kenvue (NYSE:KVUE) Stock Price

Kenvue (NYSE:KVUE) had its price target upped by analysts at Piper Sandler from $24.00 to $27.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 15.85% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup lowered their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group lowered their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays lowered their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Finally, Canaccord Genuity Group lowered their target price on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.08.

Kenvue Stock Up 4.1 %

KVUE stock opened at $23.31 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue has a twelve month low of $17.67 and a twelve month high of $24.46. The company’s 50 day moving average is $21.31 and its two-hundred day moving average is $22.20. The stock has a market cap of $44.68 billion, a P/E ratio of 43.97, a PEG 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, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Research analysts expect that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its position in shares of Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares in the last quarter. ING Groep NV boosted its position in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after purchasing an additional 681,954 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Kenvue by 2.9% during the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after buying an additional 21,222 shares during the last quarter. Alberta Investment Management Corp raised its stake in shares of Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after buying an additional 109,700 shares during the last quarter. Finally, Empower Advisory Group LLC acquired a new position in shares of Kenvue during the 4th quarter worth $48,252,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.