A number of other research analysts have also issued reports on the stock. Goldman Sachs Group Inc. lowered their target price on shares of Mead Johnson Nutrition from $96.00 to $85.00 and set a neutral rating on the stock in a research note on Tuesday, September 27th. BMO Capital Markets reiterated an outperform rating and issued a $96.00 target price (down from $97.00) on shares of Mead Johnson Nutrition in a research note on Saturday, October 8th. Susquehanna reiterated a hold rating on shares of Mead Johnson Nutrition in a research report on Monday, August 8th. JPMorgan Chase & Co. restated an overweight rating and set a $105.00 price objective on shares of Mead Johnson Nutrition in a report on Friday, August 5th. Finally, Societe Generale cut shares of Mead Johnson Nutrition from a buy rating to a hold rating and decreased their price objective for the company from $100.00 to $95.00 in a report on Friday, July 29th. 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 stock. The company presently has a consensus rating of Hold and an average price target of $94.33.
Mead Johnson Nutrition (NYSE:MJN) traded up 0.70% during midday trading on Wednesday, hitting $80.75. 927,205 shares of the stock were exchanged. The firm’s 50-day moving average is $79.94 and its 200 day moving average is $84.66. Mead Johnson Nutrition has a 52 week low of $65.53 and a 52 week high of $94.40. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 30.38 and a beta of 1.26.
Mead Johnson Nutrition (NYSE:MJN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $941.50 million for the quarter, compared to analyst estimates of $967.25 million. During the same quarter in the prior year, the business posted $0.76 EPS. Mead Johnson Nutrition’s quarterly revenue was down 8.8% on a year-over-year basis. Equities research analysts expect that Mead Johnson Nutrition will post $3.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Thursday, September 15th. Mead Johnson Nutrition’s dividend payout ratio is currently 62.03%.
In related news, SVP Graciela Monteagudo sold 45,873 shares of the stock in a transaction on Friday, August 5th. The stock was 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 directly owns 13,800 shares in the company, valued at approximately $1,209,432. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimberly A. Casiano sold 710 shares of the stock in a transaction on 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 in the company, valued at $638,122.50. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of MJN. William Blair Investment Management LLC purchased a new position in shares of Mead Johnson Nutrition during the second quarter worth about $142,077,000. FMR LLC boosted its position in shares of Mead Johnson Nutrition by 11.8% in the second quarter. FMR LLC now owns 13,045,067 shares of the company’s stock worth $1,183,840,000 after buying an additional 1,378,877 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of Mead Johnson Nutrition by 47.0% in the second quarter. Waddell & Reed Financial Inc. now owns 4,274,094 shares of the company’s stock worth $387,874,000 after buying an additional 1,367,163 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Mead Johnson Nutrition during the second quarter worth about $101,332,000. Finally, American Century Companies Inc. boosted its position in shares of 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 in the last quarter. Institutional investors own 96.93% 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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