** Shares of Tylenol maker Kenvue KVUE.N rise 2.13% to $23.24

** Dan Loeb's Third Point has built a stake in the company, the Financial Times reports, citing people familiar with the matter

** The size of Third Point's stake and the extent to which the hedge fund has engaged with Kenvue could not immediately be established, FT said

** Kenvue did not immediately respond to a Reuters request for comment

** In March, Kenvue appointed three new directors to its board as part of an agreement with activist investor Starboard Value

** Up to last close, stock has risen 9.7% YTD

(Reporting by Sriparna Roy in Bengaluru)

((Sriparna.Roy@thomsonreuters.com;))