Renaissance Capital LLC Has $13.93 Million Stock Position in Kenvue Inc. (NYSE:KVUE)

Renaissance Capital LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 580,910 shares of the company’s stock after selling 142,682 shares during the quarter. Kenvue comprises 10.8% of Renaissance Capital LLC’s holdings, making the stock its largest holding. Renaissance Capital LLC’s holdings in Kenvue were worth $13,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fulton Bank N.A. boosted its position in shares of Kenvue by 0.6% during the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company’s stock valued at $1,892,000 after buying an additional 465 shares during the last quarter. Principle Wealth Partners LLC boosted its position in shares of Kenvue by 3.7% during the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock valued at $303,000 after buying an additional 500 shares during the last quarter. White Pine Capital LLC boosted its position in shares of Kenvue by 1.0% during the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after buying an additional 542 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Kenvue by 29.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock valued at $54,000 after buying an additional 568 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE opened at $21.73 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The firm has a market cap of $41.69 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 2.62 and a beta of 0.98. The business’s fifty day moving average is $23.16 and its 200 day moving average is $22.60.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.77%. Kenvue’s payout ratio is 149.09%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup boosted their price objective on Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Barclays boosted their price objective on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Piper Sandler boosted their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. UBS Group boosted their price objective on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Redburn Atlantic assumed coverage on Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price objective on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.33.

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.