Evercore ISI Initiates Coverage on Kenvue (NYSE:KVUE)

Equities researchers at Evercore ISI began coverage on shares of Kenvue (NYSE:KVUE) in a research note issued on Monday, Marketbeat reports. The firm set an “in-line” rating and a $25.00 price target on the stock. Evercore ISI’s price target suggests a potential upside of 8.32% from the company’s previous close.

Several other brokerages have also recently commented on KVUE. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Canaccord Genuity Group increased their price objective on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. UBS Group dropped their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus target price of $23.85.

Kenvue Price Performance

NYSE:KVUE opened at $23.08 on Monday. 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 firm has a market cap of $44.11 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. Kenvue has a 12 month low of $17.67 and a 12 month high of $24.46. The company’s 50-day moving average price is $22.17 and its two-hundred day moving average price is $22.44.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, equities analysts anticipate that Kenvue will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Kenvue

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of Kenvue in the 3rd quarter valued at approximately $516,000. Advisors Asset Management Inc. raised its holdings in Kenvue by 8.3% in the third quarter. Advisors Asset Management Inc. now owns 20,371 shares of the company’s stock worth $471,000 after purchasing an additional 1,559 shares during the period. Cerity Partners LLC boosted its position in shares of Kenvue by 30.2% during the third quarter. Cerity Partners LLC now owns 791,441 shares of the company’s stock worth $18,306,000 after purchasing an additional 183,410 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Kenvue by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 18,830 shares of the company’s stock valued at $436,000 after buying an additional 8,473 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Kenvue by 10.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 253,455 shares of the company’s stock valued at $5,862,000 after buying an additional 23,936 shares in the last quarter. 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.