Kenvue Inc. (NYSE:KVUE) Shares Sold by Renaissance Capital LLC

Renaissance Capital LLC lessened its position in Kenvue Inc. (NYSE:KVUE) by 31.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 662,262 shares of the company’s stock after selling 302,261 shares during the period. Kenvue comprises about 10.1% of Renaissance Capital LLC’s holdings, making the stock its biggest position. Renaissance Capital LLC’s holdings in Kenvue were worth $15,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KVUE. Vanguard Group Inc. increased its position in shares of Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Massachusetts Financial Services Co. MA increased its position in Kenvue by 9.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after buying an additional 7,023,047 shares during the period. JPMorgan Chase & Co. lifted its position in Kenvue by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after purchasing an additional 6,825,611 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after buying an additional 7,546,362 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.7 %

KVUE stock opened at $21.76 on Wednesday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The stock has a market capitalization of $41.67 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.76 and a beta of 1.40. The business’s fifty day moving average price is $22.22 and its two-hundred day moving average price is $20.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue’s revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. On average, equities analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.77%. Kenvue’s dividend payout ratio is presently 105.13%.

Analysts Set New Price Targets

A number of research firms have commented on KVUE. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Piper Sandler raised their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Citigroup lowered their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.20.

Kenvue 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.