Mead Johnson Nutrition Co. (MJN) Sees Large Volume Increase
Mead Johnson Nutrition Co. (NYSE:MJN) shares saw strong trading volume on Thursday . 1,305,960 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 1,726,090 shares.The stock last traded at $87.91 and had previously closed at $89.24.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group AG reiterated a “buy” rating and issued a $96.00 price target on shares of Mead Johnson Nutrition in a research report on Thursday, June 30th. Zacks Investment Research raised shares of Mead Johnson Nutrition from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, May 3rd. Susquehanna reissued a “hold” rating on shares of Mead Johnson Nutrition in a research note on Thursday, June 16th. Citigroup Inc. lifted their price objective 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. Finally, Credit Agricole SA reissued a “sell” rating on shares of Mead Johnson Nutrition in a research note on Wednesday, March 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $88.00.
The firm has a market cap of $16.41 billion and a P/E ratio of 33.17. The company has a 50-day moving average price of $85.17 and a 200 day moving average price of $79.89.
Mead Johnson Nutrition (NYSE:MJN) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.02. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business had revenue of $962.10 million for the quarter, compared to analysts’ expectations of $957.03 million. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities research analysts forecast that Mead Johnson Nutrition Co. will post $3.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Monday, June 20th were paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Thursday, June 16th.
In other Mead Johnson Nutrition news, SVP Christoper Richard Stratton sold 33,730 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $86.66, for a total value of $2,923,041.80. Following the sale, the senior vice president now directly owns 5,696 shares in the company, valued at approximately $493,615.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds have recently bought and sold shares of the company. Tredje AP fonden boosted its stake in Mead Johnson Nutrition by 1.0% in the fourth quarter. Tredje AP fonden now owns 13,696 shares of the company’s stock valued at $1,087,000 after buying an additional 133 shares in the last quarter. Atlantic Trust Group LLC raised its position in shares of Mead Johnson Nutrition by 0.9% in the fourth quarter. Atlantic Trust Group LLC now owns 15,939 shares of the company’s stock worth $1,258,000 after buying an additional 136 shares during the last quarter. World Asset Management Inc raised its position in shares of Mead Johnson Nutrition by 1.8% in the fourth quarter. World Asset Management Inc now owns 21,397 shares of the company’s stock worth $1,690,000 after buying an additional 381 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Mead Johnson Nutrition by 0.4% in the fourth quarter. TD Asset Management Inc. now owns 90,413 shares of the company’s stock worth $7,138,000 after buying an additional 400 shares during the last quarter. Finally, Bar Harbor Trust Services raised its position in shares of Mead Johnson Nutrition by 0.7% in the fourth quarter. Bar Harbor Trust Services now owns 71,050 shares of the company’s stock worth $5,609,000 after buying an additional 515 shares during the last quarter.
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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