Renaissance Capital LLC Lowers Stock Holdings in Kenvue Inc. $KVUE

Key Points

• Renaissance Capital LLC cut its stake in Kenvue by 16.7% in Q4, selling 163,718 shares and now holds 816,718 shares valued at $14.09 million, making KVUE its second-largest holding (10.2% of the portfolio).
• Kenvue beat quarterly expectations with $0.27 EPS vs. $0.22 expected and $3.78 billion in revenue (up 3.2% YoY), and it pays a quarterly dividend that annualizes to a 4.7% yield, though the payout ratio is a high 107.8%.
• Several firms have trimmed price targets and ratings recently; the consensus rating is a Hold with an average target price of $19.33.

Renaissance Capital LLC reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 816,718 shares of the company's stock after selling 163,718 shares during the quarter. Kenvue accounts for 10.2% of Renaissance Capital LLC's portfolio, making the stock its 2nd biggest holding. Renaissance Capital LLC's holdings in Kenvue were worth $14,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KVUE. Arrowstreet Capital Limited Partnership bought a new position in shares of Kenvue during the second quarter valued at $6,528,000. Jump Financial LLC lifted its holdings in Kenvue by 210.6% in the second quarter. Jump Financial LLC now owns 54,823 shares of the company's stock valued at $1,147,000 after acquiring an additional 37,170 shares during the period. AXA S.A. lifted its holdings in Kenvue by 21.1% in the second quarter. AXA S.A. now owns 48,892 shares of the company's stock valued at $1,023,000 after acquiring an additional 8,524 shares during the period. NewEdge Advisors LLC lifted its holdings in Kenvue by 219.1% in the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company's stock valued at $2,040,000 after acquiring an additional 66,930 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Kenvue by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company's stock valued at $39,217,000 after acquiring an additional 10,885 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Down 0.0%

KVUE stock opened at $17.49 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The business's 50-day moving average is $17.82 and its two-hundred day moving average is $17.16. The company has a market cap of $33.57 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 3.97 and a beta of 0.61. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $3.78 billion during the quarter, compared to analysts' expectations of $3.68 billion. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. As a group, analysts forecast that Kenvue Inc. will post 1.1 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a $0.2075 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a yield of 4.7%. Kenvue's dividend payout ratio is presently 107.79%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KVUE. Barclays lowered their target price on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. UBS Group lowered their target price on Kenvue from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Citigroup lowered their target price on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. Jefferies Financial Group downgraded Kenvue from a "buy" rating to a "hold" rating and lowered their target price for the company from $23.00 to $18.00 in a report on Friday, January 30th. Finally, Argus raised Kenvue to a "hold" rating in a report on Friday, March 6th. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, Kenvue has an average rating of "Hold" and a consensus target price of $19.33.

Kenvue Profile

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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