BMO Capital Markets Reiterates Outperform Rating for Mead Johnson Nutrition Co. (MJN)
Mead Johnson Nutrition Co. (NYSE:MJN)‘s stock had its “outperform” rating reiterated by research analysts at BMO Capital Markets in a research note issued on Saturday. They presently have a $96.00 price target on the stock, down from their previous price target of $97.00. BMO Capital Markets’ target price points to a potential upside of 19.75% from the company’s previous close.
Several other equities research analysts have also commented on MJN. Susquehanna reiterated a “hold” rating on shares of Mead Johnson Nutrition in a research note on Sunday, July 17th. Deutsche Bank AG set a $88.00 price objective on Mead Johnson Nutrition and gave the stock a “hold” rating in a research note on Sunday, July 24th. JPMorgan Chase & Co. upgraded Mead Johnson Nutrition from a “neutral” rating to an “overweight” rating and set a $105.00 price objective for the company in a research note on Tuesday, July 26th. Zacks Investment Research lowered Mead Johnson Nutrition from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Finally, Citigroup Inc. boosted their price objective on Mead Johnson Nutrition from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $94.75.
Shares of Mead Johnson Nutrition (NYSE:MJN) opened at 80.17 on Friday. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 30.16 and a beta of 1.26. The stock has a 50 day moving average price of $80.38 and a 200 day moving average price of $84.69. Mead Johnson Nutrition has a 1-year low of $65.53 and a 1-year high of $94.40.
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Mead Johnson Nutrition (NYSE:MJN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm earned $941.50 million during the quarter, compared to analyst estimates of $967.25 million. During the same quarter in the previous year, the business earned $0.76 EPS. Mead Johnson Nutrition’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Mead Johnson Nutrition will post $3.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, September 15th. Mead Johnson Nutrition’s dividend payout ratio (DPR) is 62.03%.
In other Mead Johnson Nutrition news, 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 transaction, the director now directly owns 7,110 shares in the company, valued at $638,122.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Graciela Monteagudo sold 45,873 shares of the company’s 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 owns 13,800 shares in the company, valued at $1,209,432. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in 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 during the period. Vanguard Group Inc. boosted its position in Mead Johnson Nutrition by 1.4% in the second quarter. Vanguard Group Inc. now owns 11,547,883 shares of the company’s stock worth $1,047,971,000 after buying an additional 154,730 shares during the period. American Century Companies Inc. boosted its position 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. BlackRock Institutional Trust Company N.A. boosted its position in Mead Johnson Nutrition by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,027,781 shares of the company’s stock worth $456,271,000 after buying an additional 56,360 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its position in 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 during the period. 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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