Renaissance Capital LLC Boosts Position in Kenvue Inc. $KVUE

Key Points

• Renaissance Capital LLC increased its stake in Kenvue Inc. by 8.3% in Q2, making it the firm's 3rd largest holding worth approximately $13.17 million.
• Kenvue reported $0.29 earnings per share for the last quarter, exceeding analyst estimates, but revenue decreased by 4% compared to the previous year.
• The company recently increased its quarterly dividend to $0.2075, leading to an annual yield of 5.1%, despite a high payout ratio of 112.16%.

Renaissance Capital LLC increased its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 629,177 shares of the company's stock after purchasing an additional 48,267 shares during the period. Kenvue makes up approximately 9.2% of Renaissance Capital LLC's portfolio, making the stock its 3rd biggest holding. Renaissance Capital LLC's holdings in Kenvue were worth $13,169,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pittenger & Anderson Inc. bought a new position in shares of Kenvue in the first quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new position in Kenvue during the first quarter valued at approximately $36,000. Truvestments Capital LLC bought a new position in Kenvue during the first quarter valued at approximately $37,000. Clal Insurance Enterprises Holdings Ltd grew its position in Kenvue by 378.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after acquiring an additional 1,287 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after acquiring an additional 929 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KVUE has been the topic of several recent analyst reports. UBS Group cut their target price on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Rothschild & Co Redburn upgraded shares of Kenvue from a "neutral" rating to a "buy" rating and cut their target price for the stock from $22.50 to $22.00 in a report on Friday. Redburn Partners set a $22.00 target price on shares of Kenvue in a report on Friday. Bank of America cut their target price on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Finally, Barclays cut their target price on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kenvue has an average rating of "Hold" and an average price target of $23.12.

Kenvue Stock Performance

Shares of Kenvue stock opened at $16.34 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $31.36 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.36 and a beta of 0.83. The business has a fifty day simple moving average of $20.25 and a two-hundred day simple moving average of $21.76. Kenvue Inc. has a 12 month low of $16.07 and a 12 month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.Kenvue's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, equities analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 5.1%. The ex-dividend date was Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is 112.16%.

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.

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