Renaissance Technologies LLC Lowers Position in Kenvue Inc. (NYSE:KVUE)

Renaissance Technologies LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE) by 90.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 267,712 shares of the company’s stock after selling 2,503,400 shares during the period. Renaissance Technologies LLC’s holdings in Kenvue were worth $4,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC lifted its stake in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Mather Group LLC. acquired a new position in Kenvue in the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Kenvue during the 1st quarter worth approximately $33,000. MV Capital Management Inc. grew its stake in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after acquiring an additional 642 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Kenvue in the 1st quarter valued at $33,000. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday. Citigroup decreased their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Piper Sandler raised their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group assumed coverage on Kenvue in a report on Tuesday. They issued a “buy” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average target price of $22.10.

Kenvue Stock Up 0.6 %

Shares of NYSE:KVUE opened at $23.27 on Friday. The business has a 50-day moving average price of $21.31 and a 200 day moving average price of $20.05. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $44.55 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55.

Kenvue (NYSE:KVUE) last released its earnings results 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 company had revenue of $4 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.32 EPS. Sell-side analysts expect that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is currently 105.13%.

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.