Renaissance Technologies LLC Purchases New Position in Kenvue Inc. $KVUE

Renaissance Technologies LLC acquired a new position in shares of Kenvue Inc. (NYSE:KVUE) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,141,512 shares of the company’s stock, valued at approximately $71,400,000. Renaissance Technologies LLC owned approximately 0.22% of Kenvue at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new stake in shares of Kenvue during the 4th quarter valued at about $26,000. Physician Wealth Advisors Inc. grew its position in Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Kenvue in the fourth quarter valued at approximately $28,000. Reflection Asset Management purchased a new stake in shares of Kenvue during the fourth quarter valued at approximately $32,000. Finally, SBI Securities Co. Ltd. lifted its position in shares of Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock worth $39,000 after purchasing an additional 1,027 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Buying and Selling

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KVUE. Wall Street Zen raised shares of Kenvue to a “buy” rating in a report on Sunday, July 12th. Zacks Research cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. UBS Group raised their target price on Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Barclays increased their price target on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Citigroup lowered their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.58.

Kenvue Price Performance

Shares of KVUE stock opened at $19.25 on Monday. The firm has a market cap of $36.97 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.46 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $22.87. The firm has a fifty day moving average of $18.38 and a two-hundred day moving average of $17.92.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.3%. Kenvue’s dividend payout ratio is presently 97.65%.

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.