Starboard Value called consumer products company Kenvue a bargain and said its skin health and beauty segment's lackluster growth is the reason for the stock's underperformance. Starboard Chief Investment Officer Jeffrey Smith said there is an opportunity to improve revenue growth and margins at the segment which has the Neutrogena and Aveeno brands.

Tylenol, Listerine and Band-Aid maker Kenvue is the latest in the health related sector to attract an activist investor. And not just any corporate agitator, Starboard Value, which in recent days targeted pharma giant Pfizer.

Adds Kenvue comment. Kenvue (NYSE:KVUE) needs to focus on fixing its skin, health and beauty segments, Jeff Smith, founder and CEO of activist hedge fund Starboard Value said. "We are having conversations with them and there are signs that Kenvue is already going in the right direction,

Starboard Value, an activist investor, has reportedly acquired a substantial stake in Kenvue Inc (NYSE:KVUE), the company behind popular consumer products like Tylenol and Listerine. What Happened: Starboard Value is pushing for changes at Kenvue,

Starboard Value contends that Kenvue, with strong consumer health brands like Tylenol and Listerine, is underperforming its rivals, according to The Wall Street Journal.

Kenvue shares jumped premarket after The Wall Street Journal reported that Starboard Value has taken a sizable stake in the Listerine maker, and wants changes made to boost the stock price. **