Royal Bank of Canada Upgrades Kenvue (NYSE:KVUE) to “Moderate Buy”

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

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

Kenvue Stock Down 0.3 %

Shares of NYSE:KVUE opened at $22.74 on Monday. The business has a fifty day moving average of $22.96 and a two-hundred day moving average of $21.15. 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 stock has a market cap of $43.60 billion, a P/E ratio of 41.35, a PEG ratio of 2.07 and a beta of 1.37. Kenvue has a 52-week low of $17.67 and a 52-week high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. On average, research analysts expect that Kenvue will post 1.07 earnings per share for the current year.

Institutional Trading of Kenvue

Hedge funds have recently modified their holdings of the business. Riverview Trust Co purchased a new position in Kenvue in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new position in Kenvue during the third quarter worth $35,000. Studio Investment Management LLC boosted 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 purchasing an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after purchasing an additional 651 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Kenvue in the second quarter valued at $61,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.