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Shares of Mead Johnson Nutrition CO (NYSE:MJN) saw unusually-high trading volume on Thursday following a dividend announcement from the company, Stock Ratings Network reports. Approximately 2,626,977 shares changed hands during trading, an increase of 160% from the previous session’s volume of 1,010,647 shares.The stock last traded at $97.05 and had previously closed at $93.93.

The newly announced dividend is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, September 11th.

A number of research firms have recently commented on MJN. Analysts at BMO Capital Markets raised their price target on shares of Mead Johnson Nutrition CO from $82.00 to $92.00 in a research note on Wednesday, July 23rd. They now have a “market perform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Mead Johnson Nutrition CO in a research note on Wednesday, July 23rd. They now have a $109.00 price target on the stock, up previously from $105.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Mead Johnson Nutrition CO in a research note on Wednesday, July 23rd. They now have a $105.00 price target on the stock, up previously from $97.00. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $99.78.

The stock’s 50-day moving average is $94.03 and its 200-day moving average is $88.35. The company has a market cap of $19.620 billion and a P/E ratio of 28.82. Mead Johnson Nutrition CO also saw unusually large options trading activity on Wednesday. Traders purchased 5,313 put options on the company. This is an increase of approximately 1,186% compared to the average volume of 413 put options.

Mead Johnson Nutrition CO (NYSE:MJN) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by $0.02. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Mead Johnson Nutrition CO will post $3.72 EPS for the current fiscal year.

Mead Johnson Nutrition Company (NYSE:MJN) is a global pediatric nutrition company.

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