Mead Johnson Nutrition Co. (MJN) Raised to Overweight at JPMorgan Chase & Co.
Mead Johnson Nutrition Co. (NYSE:MJN) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday. The firm currently has a $105.00 price target on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 30.97% from the stock’s current price.
MJN has been the topic of several other research reports. Deutsche Bank AG set a $88.00 target price on shares of Mead Johnson Nutrition and gave the company a “hold” rating in a research note on Sunday, July 24th. Citigroup Inc. boosted their target price on shares of Mead Johnson Nutrition from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 18th. Susquehanna restated a “hold” rating and issued a $82.00 target price on shares of Mead Johnson Nutrition in a research note on Thursday, April 28th. Zacks Investment Research upgraded shares of Mead Johnson Nutrition from a “sell” rating to a “hold” rating in a research note on Monday, March 28th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $96.00 target price (up previously from $91.00) on shares of Mead Johnson Nutrition in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Mead Johnson Nutrition currently has an average rating of “Hold” and a consensus price target of $94.75.
Mead Johnson Nutrition (NYSE:MJN) traded down 0.39% during trading on Tuesday, reaching $80.17. 3,115,234 shares of the company’s stock traded hands. Mead Johnson Nutrition has a 12 month low of $65.53 and a 12 month high of $94.40. 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 firm’s 50 day moving average is $80.38 and its 200-day moving average is $84.69.
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Mead Johnson Nutrition (NYSE:MJN) last issued its earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating 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 the consensus estimate of $967.25 million. During the same quarter in the previous year, the company earned $0.76 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts expect that Mead Johnson Nutrition will post $3.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.06%. Mead Johnson Nutrition’s dividend payout ratio (DPR) is presently 62.03%.
In other news, Director Kimberly A. Casiano sold 710 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 7,110 shares of the company’s stock, valued at approximately $638,122.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Graciela Monteagudo sold 45,873 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $87.64, for a total value of $4,020,309.72. Following the completion of the sale, the senior vice president now directly owns 13,800 shares of the company’s stock, valued at $1,209,432. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Mead Johnson Nutrition by 61.4% in the third quarter. BNP Paribas Arbitrage SA now owns 15,887 shares of the company’s stock worth $1,255,000 after buying an additional 6,046 shares during the period. Eqis Capital Management Inc. boosted its stake in shares of Mead Johnson Nutrition by 47.8% in the third quarter. Eqis Capital Management Inc. now owns 3,855 shares of the company’s stock worth $305,000 after buying an additional 1,247 shares during the period. Washington Trust Bank boosted its stake in shares of Mead Johnson Nutrition by 2.2% in the third quarter. Washington Trust Bank now owns 37,240 shares of the company’s stock worth $2,942,000 after buying an additional 799 shares during the period. Williams Jones & Associates LLC bought a new stake in shares of Mead Johnson Nutrition during the second quarter worth approximately $984,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Mead Johnson Nutrition during the second quarter worth approximately $684,000. 96.93% of the stock is owned by institutional investors.
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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