An activist investor wants a J&J spinoff to boost its stock price. The hedge fund Starboard Value has taken a sizable stake in Kenvue, the consumer-products company spun out of Johnson & Johnson last year, The Wall Street Journal reported on Oct. 20. The hedge fund believes the Tylenol- and Listerine-maker has some of the best consumer brands in its industry, but its stock has underperformed peers and the broader market since its debut, the Journal reported.