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

Kenvue (NYSE:KVUE) had its price objective cut by research analysts at Citigroup from $20.00 to $19.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 8.66% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Barclays cut their price objective on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group cut their target price on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Kenvue in a report on Wednesday, April 8th. Finally, Jefferies Financial Group lowered shares of Kenvue from a “buy” rating to a “hold” rating and cut their target price for the company from $23.00 to $18.00 in a report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.33.

Kenvue Price Performance

KVUE opened at $17.49 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The stock has a market capitalization of $33.57 billion, a P/E ratio of 22.71, a P/E/G ratio of 3.93 and a beta of 0.61. The company’s 50-day simple moving average is $17.93 and its two-hundred day simple moving average is $17.08. Kenvue has a 52-week low of $14.02 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts predict that Kenvue will post 1.14 EPS for the current year.

Institutional Trading of Kenvue

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Kenvue in the fourth quarter worth about $756,862,000. Independent Franchise Partners LLP grew its stake in shares of Kenvue by 56.3% during the fourth quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company’s stock worth $830,527,000 after acquiring an additional 17,343,785 shares during the last quarter. Sculptor Capital LP grew its stake in shares of Kenvue by 1,023.5% during the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company’s stock worth $222,289,000 after acquiring an additional 11,739,328 shares during the last quarter. Capitolis Liquid Global Markets LLC grew its stake in shares of Kenvue by 1,116.8% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 10,950,999 shares of the company’s stock worth $188,905,000 after acquiring an additional 10,050,999 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Kenvue during the fourth quarter worth about $162,193,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.