Kenvue (NYSE:KVUE) PT Raised to $21.00 at HSBC

Kenvue (NYSE:KVUE) had its target price lifted by HSBC from $20.00 to $21.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. HSBC’s target price indicates a potential upside of 2.94% from the company’s current price.

A number of other research analysts also recently issued reports on KVUE. Sanford C. Bernstein began coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. William Blair assumed coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating for the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Finally, Royal Bank of Canada decreased their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.38.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $0.32 during midday trading on Wednesday, hitting $20.40. 16,870,115 shares of the company’s stock were exchanged, compared to its average volume of 17,037,621. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. Kenvue has a twelve month low of $17.82 and a twelve month high of $27.80. The stock’s 50 day moving average price is $19.85 and its 200-day moving average price is $20.11.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. The business’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, equities analysts anticipate that Kenvue will post 1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kenvue

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new stake in shares of Kenvue in the third quarter worth $5,053,000. Cambridge Investment Research Advisors Inc. bought a new stake in Kenvue during the 3rd quarter valued at approximately $1,809,000. IFM Investors Pty Ltd purchased a new position in Kenvue in the 3rd quarter worth approximately $6,200,000. Park Avenue Securities LLC purchased a new stake in Kenvue during the 3rd quarter valued at approximately $308,000. Finally, Graypoint LLC purchased a new position in shares of Kenvue in the third quarter worth $265,000. Institutional investors 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.