NEW YORK, Oct 22 (Reuters) - Starboard Value called

consumer products company Kenvue ( KVUE ) a bargain and said its

skin health and beauty segment's lackluster growth is the reason

for the stock's underperformance.

Starboard Chief Investment Officer Jeffrey Smith said there

is an opportunity to improve revenue growth and margins at the

segment which has the Neutrogena and Aveeno brands.

"They need to focus on skin health beauty," Smith said,

joking "this sounds simple, right? Now they just have to do it."

The hedge fund has built a sizable stake in the consumer

products company that makes Band-Aid, Listerine, and Tylenol.

Kenvue ( KVUE ) went public last year and is worth roughly $44 billion.

Kenvue ( KVUE ), previously a part of Johnson & Johnson ( JNJ ), has

seen its stock price fall 18% since the company was listed

publicly in May, 2023. It closed trading at $22.92 per share on

Monday.

Smith was speaking at the 13D Monitor Active-Passive

Investor Summit.