• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Starboard Value takes stake in JNJ spin-off Kenvue- WSJ

by October 21, 2024
written by October 21, 2024

Investing.com– Activist investor Starboard Value has built up a “sizeable” stake in consumer products giant Kenvue Inc (NYSE:KVUE) and is calling for changes to boost its stock price, The Wall Street Journal Reported on Sunday.

The report did not specify the size of stake. Starboard believes that Kenvue has some of the strongest consumer brands in the market, but its share price has lagged its peers and the broader market since its listing in 2023. 

Kenvue was spun off from consumer giant Johnson & Johnson (NYSE:JNJ) last year. Its share price is muted so far in 2024, compared to a 24% jump in the S&P 500. 

The firm owns several popular consumer brands, including Tylenol, Lysterine and Band-Aid. 

Starboard had recently taken a $1 billion stake in pharmaceutical giant Pfizer Inc (NYSE:PFE), the WSJ reported earlier in October, as it sought changes to turn around the drug maker’s performance. 

The hedge fund, led by Jeff Smith, invests in a wide variety of sectors with a focus on tech, with recent stakes in Salesforce Inc (NYSE:CRM), Autodesk Inc (NASDAQ:ADSK) and Tinder owner Match Group Inc (NASDAQ:MTCH).

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Asia shares wobble; bitcoin rallies on ‘Trump trade’
next post
BofA extends guaranteed FX rate window to a year

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • NVR misses third-quarter profit estimates on higher lot costs
    • Starbucks workers’ union authorizes potential US strike

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy