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

Kenvue (NYSE:KVUE) had its price target decreased by equities researchers at Barclays from $23.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential downside of 4.16% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Evercore ISI initiated coverage on Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Redburn Atlantic assumed coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price for the company. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Piper Sandler increased their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average target price of $24.42.

Kenvue Stock Performance

Kenvue stock opened at $22.96 on Monday. The company has a market cap of $43.87 billion, a PE ratio of 43.31, a P/E/G ratio of 2.62 and a beta of 1.02. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a fifty day moving average price of $22.75 and a two-hundred day moving average price of $22.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Research analysts expect that Kenvue will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Kenvue

Several large investors have recently made changes to their positions in KVUE. Handelsbanken Fonder AB boosted its holdings in Kenvue by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after buying an additional 21,222 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after acquiring an additional 109,700 shares during the last quarter. Longbow Finance SA boosted its stake in shares of Kenvue by 5.0% during the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock worth $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Kenvue by 143.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock worth $1,023,000 after acquiring an additional 28,216 shares during the last quarter. Finally, CORDA Investment Management LLC. lifted its holdings in shares of Kenvue by 1.4% during the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after purchasing an additional 17,466 shares during the last quarter. 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.