Barclays Lowers Kenvue (NYSE:KVUE) Price Target to $22.00

Kenvue (NYSE:KVUE) had its price objective cut by equities researchers at Barclays from $23.00 to $22.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 0.71% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Redburn Atlantic began coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target on the stock. Citigroup reissued a “neutral” rating on shares of Kenvue in a report on Friday, June 13th. Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective on the stock. UBS Group boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Bank of America dropped their price objective on shares of Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus target price of $24.88.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $21.85 on Tuesday. The company has a market capitalization of $41.91 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83. Kenvue has a 52 week low of $17.85 and a 52 week high of $25.17. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $22.24 and a 200 day moving average of $22.29.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that Kenvue will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Kenvue in the 4th quarter valued at about $521,348,000. Starboard Value LP acquired a new stake in Kenvue in the 4th quarter valued at about $467,864,000. Franklin Resources Inc. raised its holdings in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after acquiring an additional 16,269,721 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after acquiring an additional 10,682,003 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Kenvue by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company’s stock valued at $5,494,882,000 after acquiring an additional 10,600,682 shares during 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.