Kenvue Stock Jumps as Starboard Value Takes Significant Stake

Starboard's investment in Kenvue aims to enhance the company's stock performance following its spin-off from Johnson & Johnson.

Starboard Value, an activist investor, has acquired a substantial but unspecified stake in Kenvue, boosting the company's stock price.
Kenvue, known for brands like Tylenol and Listerine, was spun off from Johnson & Johnson in mid-2023.
Starboard's founder Jeff Smith is set to outline the firm's plans for Kenvue at the 13D Monitor Active-Passive Investor Summit in New York.
Kenvue's stock had underperformed since its market debut, remaining relatively flat compared to the S&P 500's significant rise.
Starboard's recent actions also include a notable investment in Pfizer, signaling its active role in reshaping large companies.