Daiwa Securities Group Inc. continued to hold its position in Mead Johnson Nutrition Co. (NYSE:MJN) during the second quarter, Holdings Channel reports. The fund owned 4,700 shares of the company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Mead Johnson Nutrition were worth $427,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Mead Johnson Nutrition by 634.5% in the first quarter. Bessemer Group Inc. now owns 2,894 shares of the company’s stock valued at $246,000 after buying an additional 2,500 shares during the period. East Coast Asset Management LLC. bought a new position in Mead Johnson Nutrition during the first quarter valued at $208,000. Champlain Investment Partners LLC increased its position in Mead Johnson Nutrition by 1.2% in the first quarter. Champlain Investment Partners LLC now owns 553,405 shares of the company’s stock valued at $47,023,000 after buying an additional 6,575 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Mead Johnson Nutrition during the first quarter valued at $52,905,000. Finally, Holowesko Partners Ltd. increased its position in Mead Johnson Nutrition by 5.1% in the first quarter. Holowesko Partners Ltd. now owns 1,351,743 shares of the company’s stock valued at $114,858,000 after buying an additional 66,000 shares during the period. Hedge funds and other institutional investors own 96.93% of the company’s stock.
Shares of Mead Johnson Nutrition Co. (NYSE:MJN) traded up 0.98% during midday trading on Friday, reaching $79.01. The company’s stock had a trading volume of 1,185,875 shares. Mead Johnson Nutrition Co. has a 52 week low of $65.53 and a 52 week high of $94.40. The stock has a market capitalization of $14.59 billion, a PE ratio of 29.73 and a beta of 1.17. The company has a 50 day moving average price of $81.55 and a 200-day moving average price of $84.81.
Mead Johnson Nutrition (NYSE:MJN) last posted its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $941.50 million for the quarter, compared to analyst estimates of $967.25 million. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities research analysts expect that Mead Johnson Nutrition Co. will post $3.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 15th. Mead Johnson Nutrition’s payout ratio is currently 62.03%.
Several research firms recently weighed in on MJN. Deutsche Bank AG set a $88.00 target price on Mead Johnson Nutrition and gave the company a “hold” rating in a research report on Sunday, July 24th. Susquehanna reiterated a “hold” rating on shares of Mead Johnson Nutrition in a research report 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 report on Wednesday, August 3rd. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $96.00 target price (up from $91.00) on shares of Mead Johnson Nutrition in a research report on Friday, July 15th. Finally, Bank of America Corp. upgraded Mead Johnson Nutrition from an “underperform” rating to a “neutral” rating and set a $93.00 price objective on the stock in a research report on Wednesday, July 13th. 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. Mead Johnson Nutrition has an average rating of “Hold” and an average price target of $94.83.
In other news, Director Kimberly A. Casiano sold 710 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $89.75, for a total transaction of $63,722.50. Following the sale, the director now directly owns 7,110 shares of the company’s stock, valued at approximately $638,122.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Graciela Monteagudo sold 45,873 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $87.64, for a total transaction of $4,020,309.72. Following the sale, the senior vice president now directly owns 13,800 shares in the company, valued at $1,209,432. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.
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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