
On Monday, S&P Dow Jones Indices announced that Kenvue (KVUE) would join the S&P 500 on Aug. 25, replacing Advance Auto Parts (AAP), which is being demoted to the S&P SmallCap 600.
“As previously announced on August 9, the addition of Kenvue is the result of S&P 500 and S&P 100 constituent Johnson & Johnson (JNJ) offering to exchange the shares of Kenvue held for shares of Johnson & Johnson in a split-off exchange offer that expired on Friday, August 18,” S&P Dow Jones stated in its Aug. 21 press release.