Mead Johnson Nutrition’s (MJN) “Outperform” Rating Reaffirmed at BMO Capital Markets
Mead Johnson Nutrition Co. (NYSE:MJN)‘s stock had its “outperform” rating reissued by equities research analysts at BMO Capital Markets in a report issued on Saturday. They currently have a $96.00 target price on the stock, down from their prior target price of $97.00. BMO Capital Markets’ target price indicates a potential upside of 19.75% from the company’s current price.
Other analysts have also recently issued reports about the stock. Credit Suisse Group AG restated a “buy” rating and set a $96.00 price objective on shares of Mead Johnson Nutrition in a research note on Thursday, June 30th. Susquehanna restated a “hold” rating on shares of Mead Johnson Nutrition in a research note on Monday, August 8th. Goldman Sachs Group Inc. decreased their price objective on shares of Mead Johnson Nutrition from $96.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, September 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $105.00 price objective on shares of Mead Johnson Nutrition in a research note 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 research note on Friday, July 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $94.75.
Mead Johnson Nutrition (NYSE:MJN) opened at 80.17 on Friday. The company has a market capitalization of $14.80 billion, a P/E ratio of 30.16 and a beta of 1.26. Mead Johnson Nutrition has a 52-week low of $65.53 and a 52-week high of $94.40. The firm has a 50-day moving average of $80.38 and a 200 day moving average of $84.69.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/08/mead-johnson-nutritions-mjn-outperform-rating-reaffirmed-at-bmo-capital-markets.html
Mead Johnson Nutrition (NYSE:MJN) last released its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.10. The company had revenue of $941.50 million for the quarter, compared to the consensus estimate of $967.25 million. Mead Johnson Nutrition had a net margin of 13.28% and a negative return on equity of 194.30%. Mead Johnson Nutrition’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts predict that Mead Johnson Nutrition will post $3.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were issued a dividend of $0.4125 per share. 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 payout ratio is 62.03%.
In other news, Director Kimberly A. Casiano sold 710 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $89.75, for a total transaction of $63,722.50. Following the completion of the sale, the director now owns 7,110 shares of the company’s stock, valued at $638,122.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $4,020,309.72. Following the sale, 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. Insiders own 0.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MJN. FMR LLC raised its stake 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 last quarter. Vanguard Group Inc. raised its stake 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 last quarter. American Century Companies Inc. raised 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 last quarter. BlackRock Institutional Trust Company N.A. raised its stake 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 last quarter. Finally, Waddell & Reed Financial Inc. raised its stake 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 last quarter. 96.93% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Mead Johnson Nutrition Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mead Johnson Nutrition Co. and related companies with MarketBeat.com's FREE daily email newsletter.