Why Dan Loeb Just Made Kenvue One Of His Top Holdings

Activist investor Dan Loeb‘s Third Point LLC acquired a significant stake in consumer health company Kenvue Inc. (NYSE:KVUE) in the first quarter of 2025.

Kenvue was formerly a part of Johnson & Johnson (NYSE:JNJ) before becoming an independent company in August 2023.

The company’s major products include several J&J brands, including Tylenol, Listerine, Neutrogena, and Nicorette. 

According to recent 13F filings, reflecting his holding as of March 31, 2025, Loeb bought an 8.9 million stake in the company, thereby placing it among his top five holdings.

Let's have a look at the company’s major events.

• On May 8, the company reported first-quarter 2025 sales of $3.74 billion, beating the consensus of $3.68 billion.
• Kenvue updated its fiscal 2025 outlook to reflect current foreign exchange rates and the estimated impact of higher costs due to tariffs. 
• The company now expects a net sales increase of +1% to +3% (-1% to +1% prior) year-over-year, with organic sales growth of +2% to +4 (unchanged) and a ~1% headwind from foreign currency translation (earlier expected around 3%).
• Also, Kenvue appointed Amit Banati as the company's CFO, effective May 12. Banati will succeed Paul Ruh.
• On April 16, Kenvue announced a five-year collaboration with Microsoft Corporation (NASDAQ:MSFT) to establish a strong foundation for transforming digital operations through advanced Artificial Intelligence (AI) technologies.
• Kenvue shares rose nearly 11.5% year to date, compared to the Renaissance IPO ETF (NYSE:IPO), which fell about 1.36% over the same time frame.
• The company’s shares also fared well compared to its closest peer, Estee Lauder Companies, Inc. (NYSE:EL), which declined 15.06% year to date.

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Image created using artificial intelligence via Midjourney.