Montag & Caldwell LLC boosted its position in shares of Mead Johnson Nutrition Co. (NYSE:MJN) by 50.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,882 shares of the company’s stock after buying an additional 2,304 shares during the period. Montag & Caldwell LLC’s holdings in Mead Johnson Nutrition were worth $625,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Emerald Advisers Inc. PA boosted its stake in Mead Johnson Nutrition by 43.2% in the second quarter. Emerald Advisers Inc. PA now owns 23,889 shares of the company’s stock worth $2,168,000 after buying an additional 7,212 shares during the period. ING Groep NV boosted its stake in Mead Johnson Nutrition by 56.1% in the second quarter. ING Groep NV now owns 6,630 shares of the company’s stock worth $602,000 after buying an additional 2,382 shares during the period. American Century Companies Inc. boosted its stake in Mead Johnson Nutrition by 15.2% in the second quarter. American Century Companies Inc. now owns 5,544,545 shares of the company’s stock worth $503,167,000 after buying an additional 732,011 shares during the period. PGGM Investments boosted its stake in Mead Johnson Nutrition by 132.1% in the second quarter. PGGM Investments now owns 326,344 shares of the company’s stock worth $29,616,000 after buying an additional 185,748 shares during the period. Finally, Strs Ohio boosted its stake in Mead Johnson Nutrition by 32.8% in the second quarter. Strs Ohio now owns 4,954 shares of the company’s stock worth $449,000 after buying an additional 1,223 shares during the period. Institutional investors own 96.93% of the company’s stock.
Shares of Mead Johnson Nutrition Co. (NYSE:MJN) traded up 0.62% during trading on Wednesday, reaching $79.11. The company had a trading volume of 1,569,490 shares. Mead Johnson Nutrition Co. has a 52 week low of $65.53 and a 52 week high of $94.40. The stock’s 50-day moving average price is $80.96 and its 200-day moving average price is $84.77. The company has a market capitalization of $14.61 billion, a PE ratio of 29.76 and a beta of 1.26.
Mead Johnson Nutrition (NYSE:MJN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. Mead Johnson Nutrition had a negative return on equity of 194.30% and a net margin of 13.28%. The company earned $941.50 million during the quarter, compared to analysts’ expectations of $967.25 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, equities analysts expect that Mead Johnson Nutrition Co. will post $3.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were issued a $0.4125 dividend. The ex-dividend date was Thursday, September 15th. This represents a $1.65 annualized dividend and a dividend yield of 2.09%. Mead Johnson Nutrition’s dividend payout ratio (DPR) is presently 62.03%.
A number of analysts recently commented on the company. Zacks Investment Research cut Mead Johnson Nutrition from a “hold” rating to a “sell” rating in a research report on Tuesday. Goldman Sachs Group Inc. reduced their price target on Mead Johnson Nutrition from $96.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, September 27th. BMO Capital Markets restated an “outperform” rating and issued a $97.00 price target on shares of Mead Johnson Nutrition in a research report on Friday, September 23rd. Credit Suisse Group AG set a $100.00 price target on Mead Johnson Nutrition and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Citigroup Inc. reduced their price target on Mead Johnson Nutrition from $106.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $94.83.
In other news, Director Kimberly A. Casiano sold 710 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $89.75, for a total value of $63,722.50. Following the completion of the transaction, the director now owns 7,110 shares of the company’s stock, valued at approximately $638,122.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $4,020,309.72. Following the completion of the transaction, the senior vice president now directly owns 13,800 shares of the company’s stock, valued at approximately $1,209,432. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
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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