Kenvue (KVUE) stock is 6.5% higher today on reports that activist investor Starboard Value has taken a significant stake in the company. This has led to optimism about potential strategic changes, as Starboard will reportedly push for Kenvue to reassess its brand positioning and pricing strategies to address underperformance in the share price. Starboard is also currently pushing for changes at Pfizer (PFE), where the activist investor has acquired a $1 billion stake.
KVUE is up 7.3% YTD, including today’s gain, while the broader S&P 500 Index ($SPX) has gained more than 22% in 2024.
