J&J Discloses 182.3M Kenvue Shares, Retains Significant Stake
Ticker: KVUE · Form: SC 13G · Filed: 2024-01-24T00:00:00.000Z
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).
From the Filing
0000904454-24-000049.txt : 20240124 0000904454-24-000049.hdr.sgml : 20240124 20240124125133 ACCESSION NUMBER: 0000904454-24-000049 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240124 DATE AS OF CHANGE: 20240124 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Kenvue Inc. CENTRAL INDEX KEY: 0001944048 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 881032011 STATE OF INCORPORATION: DE FISCAL YEAR END: 1229 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-94297 FILM NUMBER: 24555415 BUSINESS ADDRESS: STREET 1: 199 GRANDVIEW ROAD CITY: SKILLMAN STATE: NJ ZIP: 08558 BUSINESS PHONE: 908-874-1200 MAIL ADDRESS: STREET 1: 199 GRANDVIEW ROAD CITY: SKILLMAN STATE: NJ ZIP: 08558 FORMER COMPANY: FORMER CONFORMED NAME: JNTL, Inc. DATE OF NAME CHANGE: 20220825 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JOHNSON & JOHNSON CENTRAL INDEX KEY: 0000200406 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 221024240 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: ONE JOHNSON & JOHNSON PLZ CITY: NEW BRUNSWICK STATE: NJ ZIP: 08933 BUSINESS PHONE: 732-524-2455 MAIL ADDRESS: STREET 1: ONE JOHNSON & JOHNSON PLZ CITY: NEW BRUNSWICK STATE: NJ ZIP: 08933 SC 13G 1 s13g_011924-kenvue.htm SCHWEDULE 13G SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b),(c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. ) 1 Kenvue Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 49177J102 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ ] Rule 13d-1(c) [X] Rule 13d-1(d) 1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. CUSIP No. 49177J102 Page 2 1. NAME OF REPORTING PERSON Johnson & Johnson 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION New Jersey NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 182,329,550 6. SHARED VOTING POWER -0- 7. SOLE DISPOSITIVE POWER 182,329,550 8. SHARED DISPOSITIVE POWER -0- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 182,329,550 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.5% (1) 12. TYPE OF REPORTING PERSON CO (1) Based on 1,914,995,085 shares of Common Stock outstanding as of October 27, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended October 1, 2023 filed with the Securities and Exchange Commission on November 3, 2023. CUSIP No. 49177J102 Page 3 SCHEDULE 13G ITEM 1(a) NAME OF ISSUER: Kenvue Inc. ITEM 1(b) ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES: 199 Grandview Road, Skillman, NJ 08558 ITEM 2(a) NAME OF PERSON FILING: Johnson & Johnson ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE: One Johnson & Johnson Plaza, New Brunswick, NJ 08933 ITEM 2(c) CITIZENSHIP: New Jersey ITEM 2(d) TITLE OF CLASS OF SECURITIES: Common Stock, par value $0.01 per share (&l