Kenvue (NYSE:KVUE) Raised to Moderate Buy at Royal Bank of Canada

Kenvue (NYSE:KVUE) was upgraded by analysts at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

KVUE has been the subject of a number of other reports. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Performance

NYSE:KVUE opened at $22.74 on Monday. The stock has a market capitalization of $43.60 billion, a P/E ratio of 41.35, a PEG ratio of 2.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The company has a 50 day moving average price of $22.96 and a 200 day moving average price of $21.15.

Kenvue (NYSE:KVUE) last posted its earnings results 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 for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. Equities research analysts forecast that Kenvue will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Kenvue

A number of large investors have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in Kenvue in the third quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue in the 3rd quarter valued at about $35,000. Deseret Mutual Benefit Administrators increased its holdings in Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares in the last quarter. Studio Investment Management LLC raised its position in Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Kenvue in the third quarter valued at approximately $71,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.