Deutsche Bank Aktiengesellschaft Cuts Kenvue (NYSE:KVUE) Price Target to $23.00

Kenvue (NYSE:KVUE) had its target price cut by investment analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 25.00% from the stock’s previous close.

A number of other brokerages have also commented on KVUE. William Blair began coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating for the company. HSBC upped their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein initiated coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. Finally, Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Kenvue has a consensus rating of “Hold” and a consensus price target of $22.45.

Kenvue Stock Performance

KVUE traded up $0.23 on Thursday, hitting $18.40. The company had a trading volume of 3,939,111 shares, compared to its average volume of 19,042,350. The company’s fifty day moving average price is $18.67 and its 200 day moving average price is $19.59. Kenvue has a 1-year low of $17.67 and a 1-year high of $25.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $35.23 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities analysts predict that Kenvue will post 1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Wellington Management Group LLP grew its stake in Kenvue by 6.7% in the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after purchasing an additional 4,815,126 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Kenvue by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after purchasing an additional 6,825,611 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Kenvue by 9.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock valued at $1,435,307,000 after purchasing an additional 5,574,265 shares in the last quarter. Institutional investors and hedge funds 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.