J&J’s Kenvue spinoff a rare IPO winner in moribund market, Barron’s says

After months of waiting, investors finally have an initial public offering worth buying. It’s no highflying start-up, however. It’s Kenvue, the consumer health spinoff from Johnson & Johnson (JNJ), and it looks like a winner, Andrew Bary writes in this week’s edition of Barron’s. Kenvue has a lot going for it. It owns such leading brands as Tylenol, Band-Aid, and Listerine; has a relatively cheap valuation; and will carry a dividend yield of more than 3.5% based on a planned quarterly payout of about 20 cents a share, the author notes. Backed by that pedigree, Kenvue (KVUE) plans to offer 151.2M shares-and possibly as many as 174 million shares at a price of $20 to $23 a share-late in the coming week. Reference Link