Mead Johnson Nutrition Co. (NYSE:MJN) had its target price trimmed by Goldman Sachs Group Inc. from $96.00 to $85.00 in a research note published on Tuesday morning. The firm currently has a neutral rating on the stock.
Other equities analysts also recently issued research reports about the company. Deutsche Bank AG set a $88.00 target price on Mead Johnson Nutrition and gave the stock a hold rating in a research note on Sunday, July 24th. Susquehanna restated a hold rating on shares of Mead Johnson Nutrition in a research note on Sunday, July 17th. Credit Agricole SA upgraded Mead Johnson Nutrition from an underperform rating to an outperform rating and set a $96.00 target price on the stock in a research note on Wednesday, August 3rd. Bank of America Corp. upgraded Mead Johnson Nutrition from an underperform rating to a neutral rating and set a $93.00 target price on the stock in a research note on Wednesday, July 13th. Finally, BMO Capital Markets restated an outperform rating and issued a $97.00 target price on shares of Mead Johnson Nutrition in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Mead Johnson Nutrition currently has a consensus rating of Hold and an average target price of $94.83.
Mead Johnson Nutrition (NYSE:MJN) traded up 0.81% during mid-day trading on Tuesday, reaching $77.40. The company’s stock had a trading volume of 239,777 shares. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 29.12 and a beta of 1.17. The firm has a 50 day moving average price of $82.42 and a 200 day moving average price of $84.87. Mead Johnson Nutrition has a 52-week low of $65.53 and a 52-week high of $94.40.
Mead Johnson Nutrition (NYSE:MJN) last released its quarterly earnings results 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. The business earned $941.50 million during the quarter, compared to the consensus estimate of $967.25 million. Mead Johnson Nutrition had a negative return on equity of 194.30% and a net margin of 13.28%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. Equities research analysts anticipate that Mead Johnson Nutrition will post $3.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be issued a dividend of $0.4125 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.65 dividend on an annualized basis and a yield of 2.15%. Mead Johnson Nutrition’s payout ratio is 62.03%.
In other news, SVP Graciela Monteagudo sold 45,873 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $87.64, for a total value of $4,020,309.72. Following the transaction, the senior vice president now owns 13,800 shares of the company’s stock, valued at $1,209,432. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kimberly A. Casiano sold 710 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $89.75, for a total transaction of $63,722.50. Following the completion of the transaction, the director now directly owns 7,110 shares in the company, valued at approximately $638,122.50. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Mead Johnson Nutrition by 11.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,287 shares of the company’s stock valued at $118,000 after buying an additional 131 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in Mead Johnson Nutrition during the second quarter valued at $128,000. Checchi Capital Advisers LLC boosted its position in Mead Johnson Nutrition by 2.5% in the second quarter. Checchi Capital Advisers LLC now owns 1,418 shares of the company’s stock valued at $129,000 after buying an additional 35 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Mead Johnson Nutrition during the second quarter valued at $180,000. Finally, East Coast Asset Management LLC. purchased a new position in Mead Johnson Nutrition during the first quarter valued at $208,000. 96.93% of the stock is currently owned by hedge funds and other institutional investors.
About Mead Johnson Nutrition
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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