After Starboard acquires a stake in Kenvue, the company experiences a surge in stock price.

• According to sources, Starboard Value has accumulated a substantial share in Kenvue, a company that separated from Johnson & Johnson in the second half of 2023.
• On Tuesday at the 13D Monitor's Active-Passive Investor Summit, Jeff Smith from Starboard is expected to provide more information about the position.
• The activist investor also recently amassed a $1 billion stake in Pfizer.

According to sources, Starboard Value holds a significant investment in the newly spun-out company from Johnson & Johnson, which was formed in mid-2023.

The activist is seeking to improve the company's share price, according to anonymous sources who requested confidentiality. CNBC was unable to determine the size of the stake or the specific plans of Starboard. Jeff Smith, Starboard's CEO, is expected to discuss the activist's plans for the company in detail at the Active-Passive Investor Summit on Tuesday.

On Monday, The Wall Street Journal reported that shares surged roughly 8% in pre-market trading.

Aveeno, Band-Aid, Listerine, Neutrogena, Tylenol, J&J's baby powder, and shampoo are all iconic brands created by Kenvue, which is known to both investors and the general public.

Kenvue has received a push from Starboard two weeks after it was revealed that Starboard had invested approximately $1 billion in struggling pharmaceutical company Pfizer.

J&J completed its separation from Kenvue in August last year, though the pharmaceutical giant still holds a stake in the new company. This marked the biggest shake-up in J&J's nearly 140-year history.

In late 2021, J&J declared a split to simplify operations and concentrate on its pharmaceutical and medical device operations.