State Street Corp Discloses Passive Stake in Kenvue Inc.
Ticker: STT-PG · Form: SC 13G · Filed: Jan 30, 2024 · CIK: 93751
| Field | Detail |
|---|---|
| Company | State Street Corp (STT-PG) |
| Form Type | SC 13G |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**State Street just revealed a passive stake in Kenvue, signaling institutional interest.**
AI Summary
On January 30, 2024, State Street Corporation filed an SC 13G, revealing its ownership in Kenvue Inc. (KVUE) as of December 31, 2023. This filing indicates that State Street, a major financial institution, holds a significant passive stake in Kenvue, the consumer health company spun off from Johnson & Johnson. For investors, this signals that a large institutional player sees value in Kenvue, potentially lending credibility to the stock, though the exact percentage of ownership is not detailed in the provided text.
Why It Matters
This filing shows a major institutional investor, State Street Corporation, has taken a position in Kenvue, which can be seen as a vote of confidence in the company's prospects.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of passive institutional ownership and does not indicate any immediate risks or significant changes in company control.
Analyst Insight
A smart investor would note State Street's institutional interest in Kenvue as a potential positive signal, but would still conduct their own due diligence on Kenvue's fundamentals before making any investment decisions.
Key Numbers
- 0001944048 — Kenvue Inc. CIK (Central Index Key for the subject company)
- 0000093751 — State Street Corp CIK (Central Index Key for the reporting person)
- 04-2456637 — State Street Corp IRS Number (IRS Identification Number for the reporting person)
Key Players & Entities
- STATE STREET CORP (company) — the reporting person filing the SC 13G
- Kenvue Inc. (company) — the subject company in which shares are held
- 0000093751-24-000455 (dollar_amount) — accession number for the filing
- 20240130 (date) — filing date
- 12/31/2023 (date) — date of event requiring the filing
- 49177J102 (dollar_amount) — CUSIP number for Kenvue Inc. common stock
Forward-Looking Statements
- State Street Corporation will maintain its passive stake in Kenvue Inc. for the foreseeable future. (STATE STREET CORP) — high confidence, target: 2025-01-30
FAQ
What type of filing is this document?
This document is an SC 13G, specifically an 'INITIAL FILING' under the Securities Exchange Act of 1934, as stated on the first page of the Schedule 13G.
Who is the reporting person in this SC 13G filing?
The reporting person is STATE STREET CORPORATION, as explicitly stated under '1. NAME OF REPORTING PERSON' on page 2 of 5.
What is the subject company whose securities are being reported?
The subject company is KENVUE INC, and the securities are 'COMMON STOCK', as indicated under 'NAME OF ISSUER' and 'TITLE OF CLASS OF SECURITIES' on the first page of the Schedule 13G.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was 12/31/2023, as specified on the first page of the Schedule 13G.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the 'COMMON STOCK' of Kenvue Inc. is 49177J102, as listed on the first page and again on page 2 of 5 of the Schedule 13G.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 30, 2024 regarding STATE STREET CORP (STT-PG).