Starboard Value has amassed a significant stake in Kenvue, which spun out of Johnson & Johnson in mid-2023, according to people familiar with the matter. Starboard's Jeff Smith is expected to detail the position further at 13D Monitor’s Active-Passive Investor Summit on Tuesday.

Kenvue has a formidable lineup of well-known consumer health brands, such as Aveeno, Tylenol, Band-Aid, Zirtec, Listerine, and Neutrogena. These strong brand images can leverage the firm's growth and transformation of Kenvue.

Activist investor Starboard Value, which picked up a $1 billion stake in Pfizer earlier this month, now reportedly has Johnson & Johnson’s consumer health spinout Kenvue in its sights. | Starboard, which recently pitched turnaround plans to Pfizer,