Canaccord Genuity Group Begins Coverage on Kenvue (NYSE:KVUE)

Research analysts at Canaccord Genuity Group began coverage on shares of Kenvue (NYSE:KVUE) in a report released on Thursday, Briefing.com reports. The firm set a “buy” rating and a $28.00 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 25.06% from the company’s current price.

A number of other analysts have also issued reports on KVUE. HSBC assumed coverage on Kenvue in a research note on Thursday, June 1st. They set a “hold” rating and a $27.00 price objective on the stock. The Goldman Sachs Group raised shares of Kenvue from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Kenvue in a research note on Tuesday, May 30th. They set a “hold” rating and a $27.00 price objective for the company. BNP Paribas started coverage on shares of Kenvue in a research note on Tuesday, May 30th. They issued a “neutral” rating and a $28.00 target price on the stock. Finally, Bank of America started coverage on shares of Kenvue in a report on Tuesday, May 30th. They issued a “buy” rating and a $30.00 price target for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Kenvue currently has a consensus rating of “Moderate Buy” and an average target price of $28.10.

Kenvue Trading Down 1.0 %

Shares of NYSE:KVUE opened at $22.39 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.17 and a quick ratio of 0.79. The stock’s 50-day simple moving average is $24.07. Kenvue has a twelve month low of $22.30 and a twelve month high of $27.80.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, July 20th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.96 billion. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue will post 1.26 EPS for the current fiscal year.

Insider Transactions at Kenvue

In other Kenvue news, Director Richard E. Allison, Jr. bought 5,598 shares of Kenvue stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average price of $22.96 per share, with a total value of $128,530.08. Following the acquisition, the director now owns 25,598 shares in the company, valued at $587,730.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Kenvue

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC purchased a new position in Kenvue in the 2nd quarter worth approximately $26,000. Tamarack Advisers LP bought a new position in shares of Kenvue in the second quarter worth approximately $26,000. Citigroup Inc. purchased a new position in shares of Kenvue in the second quarter worth $57,000. National Bank of Canada FI bought a new stake in Kenvue during the 2nd quarter valued at $58,000. Finally, Fairfield Bush & CO. bought a new stake in Kenvue during the 2nd quarter valued at $66,000. Institutional investors own 11.33% 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, and other products under the Tylenol, Nicorette, and Zyrtec brands.