J&J Discloses 182.3M Kenvue Shares, Retains Significant Stake
Ticker: KVUE · Form: SC 13G · Filed: Jan 24, 2024 · CIK: 1944048
| Field | Detail |
|---|---|
| Company | Kenvue Inc. (KVUE) |
| Form Type | SC 13G |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: insider-ownership, spin-off, passive-investment
TL;DR
**J&J still owns a massive chunk of Kenvue, keeping a close eye on its spin-off.**
AI Summary
Johnson & Johnson (J&J) filed an SC 13G on January 24, 2024, disclosing its beneficial ownership of 182,329,550 shares of Kenvue Inc. common stock as of December 31, 2023. This represents a significant stake, as J&J was the parent company that spun off Kenvue. This filing is important for Kenvue shareholders because it confirms J&J's continued substantial, though non-controlling, interest in the consumer health company, indicating a potential long-term strategic alignment or a future divestment strategy.
Why It Matters
This filing confirms Johnson & Johnson's substantial, but not controlling, ownership in Kenvue, which could influence Kenvue's strategic decisions and future stock performance.
Risk Assessment
Risk Level: low — This filing primarily confirms existing ownership, posing minimal new risk to investors.
Analyst Insight
Investors should monitor future filings from Johnson & Johnson for any changes in their Kenvue Inc. holdings, as significant sales could impact Kenvue's stock price. This filing confirms J&J's current passive stake, which is a known factor post-spin-off.
Key Numbers
- 182,329,550 — Shares Beneficially Owned (Represents Johnson & Johnson's sole voting power in Kenvue Inc. as of December 31, 2023.)
- $0.01 — Par Value per Share (The stated par value of Kenvue Inc. common stock.)
Key Players & Entities
- Johnson & Johnson (company) — reporting person and former parent company of Kenvue Inc.
- Kenvue Inc. (company) — subject company, spun off from Johnson & Johnson
- 182,329,550 (dollar_amount) — number of shares of Kenvue Inc. common stock beneficially owned by Johnson & Johnson
- December 31, 2023 (person) — date of event which requires filing of this statement
- New Jersey (person) — place of organization for Johnson & Johnson
Forward-Looking Statements
- Johnson & Johnson will continue to gradually reduce its stake in Kenvue Inc. over the next 12-24 months. (Johnson & Johnson) — medium confidence, target: 2026-01-24
FAQ
What is the purpose of an SC 13G filing, and why did Johnson & Johnson file one for Kenvue Inc.?
An SC 13G is filed by an investor who acquires beneficial ownership of more than 5% of a class of a company's equity securities, but does not intend to influence or control the issuer. Johnson & Johnson filed this SC 13G because it beneficially owns 182,329,550 shares of Kenvue Inc. common stock, which is a significant stake, and it is filing under Rule 13d-1(d), typically used by passive investors or in connection with certain corporate events like spin-offs.
What specific date is relevant for the ownership reported in this SC 13G filing?
The 'Date of Event Which Requires Filing of this Statement' is December 31, 2023, meaning the ownership reported reflects Johnson & Johnson's holdings in Kenvue Inc. as of that date.
What is the CUSIP number for Kenvue Inc. common stock, as stated in the filing?
The CUSIP number for Kenvue Inc. common stock is 49177J102, as listed on the cover page of the Schedule 13G.
Does Johnson & Johnson have shared voting power over the Kenvue Inc. shares reported?
No, the filing explicitly states that Johnson & Johnson has "SOLE VOTING POWER" over 182,329,550 shares and "SHARED VOTING POWER" of "-0-".
What was Kenvue Inc.'s former company name and when did the name change occur?
Kenvue Inc.'s former company name was JNTL, Inc., and the date of the name change was 20220825 (August 25, 2022).
Filing Stats: 597 words · 2 min read · ~2 pages · Grade level 9.8 · Accepted 2024-01-24 12:51:33
Key Financial Figures
- $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
Filing Documents
- s13g_011924-kenvue.htm (SC 13G) — 34KB
- 0000904454-24-000049.txt ( ) — 36KB
(a)
ITEM 1(a) NAME OF ISSUER: Kenvue Inc.
(b)
ITEM 1(b) ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES: 199 Grandview Road, Skillman, NJ 08558
(a)
ITEM 2(a) NAME OF PERSON FILING: Johnson & Johnson
(b)
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE: One Johnson & Johnson Plaza, New Brunswick, NJ 08933
(c)
ITEM 2(c) CITIZENSHIP: New Jersey
(d)
ITEM 2(d) TITLE OF CLASS OF SECURITIES: Common Stock, par value $0.01 per share (“Common Stock”)
(e)
ITEM 2(e) CUSIP NUMBER: 49177J102 ITEM 3 Not applicable. ITEM 4 The information set forth in the cover page of this Schedule 13G is incorporated herein by reference. CUSIP No. 49177J102 Page 4 ITEM 5 Not applicable. ITEM 6 Not applicable. ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT COMPANY: Not applicable. ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP: Not applicable. ITEM 9 NOTICE OF DISSOLUTION OF GROUP: Not applicable. ITEM 10 CERTIFICATION: Not applicable. CUSIP No. 49177J102 Page 5 SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: January 24, 2024 JOHNSON & JOHNSON By: /s/ Marc Larkins Name: Marc Larkins Title: Secretary