Kenvue (NYSE:KVUE – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.
Several other analysts have also weighed in on KVUE. UBS Group decreased their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Citigroup dropped their price objective on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Barclays cut their price objective on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Finally, Weiss Ratings upgraded shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.33.
Read Our Latest Report on KVUE
Kenvue Trading Down 2.5%
Kenvue (NYSE:KVUE – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. Research analysts predict that Kenvue will post 1.16 earnings per share for the current year.
Insider Buying and Selling
In related news, General Counsel Matthew Orlando sold 38,491 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.59% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Kenvue
Hedge funds have recently added to or reduced their stakes in the stock. Oak Thistle LLC purchased a new position in Kenvue during the fourth quarter valued at approximately $1,563,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Kenvue by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company’s stock worth $7,088,000 after buying an additional 84,219 shares during the period. SG Americas Securities LLC lifted its holdings in Kenvue by 3,889.9% during the fourth quarter. SG Americas Securities LLC now owns 3,075,723 shares of the company’s stock worth $53,056,000 after buying an additional 2,998,635 shares during the period. Moors & Cabot Inc. boosted its position in Kenvue by 66.9% during the 3rd quarter. Moors & Cabot Inc. now owns 313,122 shares of the company’s stock valued at $5,082,000 after acquiring an additional 125,517 shares in the last quarter. Finally, Cohen Capital Management Inc. bought a new stake in Kenvue during the 4th quarter valued at $2,448,000. 97.64% of the stock is currently owned by institutional investors.
About Kenvue
Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.
The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.
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