Citigroup Issues Pessimistic Forecast for Kenvue (NYSE:KVUE) Stock Price

Kenvue (NYSE:KVUE) had its price objective decreased by investment analysts at Citigroup from $24.50 to $22.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 0.71% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America cut their price target on Kenvue from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective on the stock. Evercore ISI started coverage on Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 target price for the company. Barclays cut their price objective on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, UBS Group boosted their price target on Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.88.

Kenvue Trading Up 2.1%

Shares of KVUE stock opened at $21.85 on Tuesday. Kenvue has a fifty-two week low of $17.85 and a fifty-two week high of $25.17. The stock has a market capitalization of $41.91 billion, a P/E ratio of 39.72, a P/E/G ratio of 3.33 and a beta of 0.83. 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 stock has a 50-day simple moving average of $22.24 and a 200 day simple moving average of $22.29.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion during 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%. Kenvue’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. On average, sell-side analysts expect that Kenvue will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Several institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in Kenvue by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company’s stock worth $2,545,000 after purchasing an additional 4,034 shares in the last quarter. Starboard Value LP acquired a new position in shares of Kenvue during the fourth quarter valued at $467,864,000. TrueMark Investments LLC raised its stake in shares of Kenvue by 9.3% during the fourth quarter. TrueMark Investments LLC now owns 190,595 shares of the company’s stock valued at $4,069,000 after purchasing an additional 16,161 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Kenvue during the first quarter valued at about $413,000. Finally, DLK Investment Management LLC bought a new stake in Kenvue in the first quarter worth about $4,100,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.