Kenvue (NYSE:KVUE) Upgraded to “Overweight” at Piper Sandler

Kenvue (NYSE:KVUE) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm presently has a $26.00 target price on the stock, up from their previous target price of $21.00. Piper Sandler’s price target indicates a potential upside of 22.64% from the stock’s current price.

Other analysts have also issued research reports about the company. Bank of America increased their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barclays raised shares of Kenvue to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Performance

Shares of KVUE opened at $21.20 on Monday. Kenvue has a 12-month low of $17.67 and a 12-month high of $24.46. The stock has a market cap of $40.65 billion, a P/E ratio of 38.55, a PEG ratio of 2.02 and a beta of 1.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $22.81 and a two-hundred day moving average of $21.51.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. As a group, research analysts predict that Kenvue will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Kenvue

A number of large investors have recently modified their holdings of KVUE. Commonwealth Equity Services LLC increased its position in Kenvue by 7.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 278,747 shares of the company’s stock worth $5,068,000 after purchasing an additional 18,506 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Kenvue by 23.8% in the 2nd quarter. National Bank of Canada FI now owns 417,999 shares of the company’s stock valued at $7,527,000 after acquiring an additional 80,272 shares during the period. Victory Capital Management Inc. raised its stake in shares of Kenvue by 54.9% in the 2nd quarter. Victory Capital Management Inc. now owns 799,225 shares of the company’s stock valued at $14,530,000 after acquiring an additional 283,383 shares during the period. Candriam S.C.A. lifted its holdings in shares of Kenvue by 20.8% during the 2nd quarter. Candriam S.C.A. now owns 85,878 shares of the company’s stock valued at $1,561,000 after acquiring an additional 14,784 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Kenvue during the 2nd quarter worth $412,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.