Burgundy Asset Management Ltd. Cuts Stake in Johnson & Johnson $JNJ

Burgundy Asset Management Ltd. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,160,080 shares of the company’s stock after selling 9,247 shares during the quarter. Johnson & Johnson accounts for approximately 1.7% of Burgundy Asset Management Ltd.’s holdings, making the stock its 18th biggest position. Burgundy Asset Management Ltd.’s holdings in Johnson & Johnson were worth $177,202,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Johnson & Johnson by 1.3% during the second quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock valued at $36,209,060,000 after acquiring an additional 3,085,180 shares in the last quarter. Geode Capital Management LLC boosted its stake in Johnson & Johnson by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock valued at $9,227,988,000 after purchasing an additional 1,225,676 shares during the last quarter. Norges Bank bought a new stake in shares of Johnson & Johnson in the 2nd quarter worth $4,877,174,000. Northern Trust Corp raised its stake in shares of Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock worth $5,131,723,000 after purchasing an additional 130,645 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Johnson & Johnson by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 23,802,503 shares of the company’s stock valued at $3,635,832,000 after purchasing an additional 620,039 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.3%

Shares of JNJ stock opened at $201.92 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $486.48 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.25 and a beta of 0.36. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $207.81. The firm has a fifty day moving average price of $194.05 and a 200-day moving average price of $175.40.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. As a group, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.6%. Johnson & Johnson’s payout ratio is currently 50.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JNJ shares. The Goldman Sachs Group lifted their price objective on Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Morgan Stanley set a $190.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 15th. Cowen restated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Johnson Rice set a $190.00 target price on shares of Johnson & Johnson and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Finally, HSBC increased their price target on Johnson & Johnson from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.15.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.