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

Kenvue (NYSE:KVUE) had its target price reduced by Citigroup from $25.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 0.77% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Barclays raised Kenvue to a “hold” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.18.

Kenvue Stock Performance

KVUE traded down $0.19 during trading on Wednesday, reaching $20.84. 4,832,283 shares of the company’s stock were exchanged, compared to its average volume of 8,578,188. The company has a market capitalization of $39.96 billion, a P/E ratio of 37.89, a PEG ratio of 2.02 and a beta of 1.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $22.54 and a 200 day moving average price of $21.65. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46.

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

Institutional Investors Weigh In On Kenvue

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank grew its holdings in Kenvue by 26.5% in the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after buying 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 acquiring an additional 681,954 shares in the last quarter. Saturna Capital Corp increased its stake in Kenvue by 29.9% in the third quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock valued at $30,875,000 after acquiring an additional 307,039 shares during the last quarter. Everence Capital Management Inc. raised its position in Kenvue by 122.1% during the fourth quarter. Everence Capital Management Inc. now owns 45,380 shares of the company’s stock valued at $969,000 after purchasing an additional 24,950 shares in the last quarter. Finally, Tyler Stone Wealth Management lifted its stake in Kenvue by 134.4% during the third quarter. Tyler Stone Wealth Management now owns 49,050 shares of the company’s stock worth $1,135,000 after purchasing an additional 28,125 shares during the last quarter. 97.64% of the stock is currently 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.