Renaissance Capital LLC cut its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 19.7% during the 1st quarter, according to its most recent disclosure 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 makes up 10.8% of Renaissance Capital LLC's holdings, making the stock its biggest holding. Renaissance Capital LLC's holdings in Kenvue were worth $13,930,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its stake 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 purchasing an additional 571 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Kenvue during the fourth quarter valued at about $42,000. Clarity Asset Management Inc. acquired a new stake in shares of Kenvue during the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new stake in shares of Kenvue during the fourth quarter valued at about $46,000. Finally, Deseret Mutual Benefit Administrators boosted its stake 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 purchasing an additional 568 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on KVUE shares. Evercore ISI started coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective on the stock. Citigroup lifted their price objective on Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Redburn Atlantic started coverage on Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective on the stock. Piper Sandler lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, UBS Group lifted their price objective on Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and an average price target of $25.33.
View Our Latest Stock Analysis on Kenvue
Kenvue Trading Up 0.4%
Shares of KVUE stock opened at $21.73 on Friday. The company has a market cap of $41.69 billion, a P/E ratio of 41.00, a PEG ratio of 2.62 and a beta of 0.98. The stock has a 50 day simple moving average of $23.16 and a two-hundred day simple moving average of $22.60. 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 fifty-two week low of $17.67 and a fifty-two week high of $25.17.
Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.77%. Kenvue's payout ratio is currently 149.09%.
Kenvue Company Profile
(
Free Report)
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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