Pitcairn Co. raised its stake in shares of Mead Johnson Nutrition Co. (NYSE:MJN) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,949 shares of the company’s stock after buying an additional 88 shares during the period. Pitcairn Co.’s holdings in Mead Johnson Nutrition were worth $2,718,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Mead Johnson Nutrition during the second quarter valued at $101,332,000. Shell Asset Management Co. increased its stake in shares of Mead Johnson Nutrition by 46.1% in the second quarter. Shell Asset Management Co. now owns 98,930 shares of the company’s stock valued at $8,978,000 after buying an additional 31,234 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Mead Johnson Nutrition during the second quarter valued at $327,000. America First Investment Advisors LLC increased its stake in shares of Mead Johnson Nutrition by 0.9% in the second quarter. America First Investment Advisors LLC now owns 109,087 shares of the company’s stock valued at $9,900,000 after buying an additional 962 shares during the last quarter. Finally, Kanaly Trust Co increased its stake in shares of Mead Johnson Nutrition by 810.3% in the second quarter. Kanaly Trust Co now owns 5,771 shares of the company’s stock valued at $524,000 after buying an additional 5,137 shares during the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.
Mead Johnson Nutrition Co. (NYSE:MJN) traded up 0.78% during midday trading on Monday, reaching $77.35. The company had a trading volume of 1,439,177 shares. The firm has a 50-day moving average of $84.33 and a 200-day moving average of $84.84. The stock has a market cap of $14.28 billion, a P/E ratio of 29.10 and a beta of 1.17. Mead Johnson Nutrition Co. has a 12 month low of $65.53 and a 12 month high of $94.40.
Mead Johnson Nutrition (NYSE:MJN) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.10. Mead Johnson Nutrition had a net margin of 13.28% and a negative return on equity of 194.30%. The firm had revenue of $941.50 million for the quarter, compared to analysts’ expectations of $967.25 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities analysts expect that Mead Johnson Nutrition Co. will post $3.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 15th. Mead Johnson Nutrition’s payout ratio is 62.03%.
Several brokerages recently weighed in on MJN. Credit Suisse Group AG set a $100.00 target price on Mead Johnson Nutrition and gave the company a “buy” rating in a research note on Monday, September 12th. Citigroup Inc. decreased their target price on Mead Johnson Nutrition from $106.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, September 8th. Susquehanna restated a “hold” rating and set a $90.00 target price on shares of Mead Johnson Nutrition in a research note on Wednesday, September 7th. JPMorgan Chase & Co. restated an “overweight” rating and set a $105.00 target price on shares of Mead Johnson Nutrition in a research note on Friday, August 5th. Finally, Credit Agricole SA upgraded Mead Johnson Nutrition from an “underperform” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $95.75.
In other Mead Johnson Nutrition news, Director Kimberly A. Casiano sold 710 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $89.75, for a total value of $63,722.50. Following the transaction, the director now owns 7,110 shares in the company, valued at $638,122.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Graciela Monteagudo sold 45,873 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $87.64, for a total transaction of $4,020,309.72. Following the completion of the transaction, the senior vice president now owns 13,800 shares in the company, valued at approximately $1,209,432. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
Mead Johnson Nutrition Company Profile
Mead Johnson Nutrition Company (Mead Johnson) is a pediatric nutrition company. The Company manufactures, distributes and sells infant formulas, children’s nutrition and other nutritional products. The Company operates through three segments: Asia, North America/Europe and Latin America. Its product portfolio includes routine and specialty infant formulas, children’s milks and milk modifiers, dietary supplements for pregnant and breastfeeding mothers, pediatric vitamins, and products for pediatric metabolic disorders.
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