Mead Johnson Nutrition Co. (MJN) Sees Unusually-High Trading Volume
Mead Johnson Nutrition Co. (NYSE:MJN) saw unusually-strong trading volume on Thursday . Approximately 1,305,960 shares changed 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.
Several analysts have recently issued reports on MJN shares. Susquehanna restated a “hold” rating and issued a $77.00 price objective on shares of Mead Johnson Nutrition in a research report on Friday, April 1st. Credit Suisse Group AG upgraded Mead Johnson Nutrition from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $76.00 to $100.00 in a research report on Wednesday, March 16th. Citigroup Inc. increased their target price on Mead Johnson Nutrition from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, April 18th. Zacks Investment Research upgraded Mead Johnson Nutrition from a “sell” rating to a “hold” rating in a research report on Monday, March 28th. Finally, Credit Agricole SA reiterated a “sell” rating on shares of Mead Johnson Nutrition in a research report on Wednesday, March 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $88.00.
The stock’s 50 day moving average price is $85.36 and its 200-day moving average price is $79.97. The company has a market capitalization of $16.68 billion and a price-to-earnings ratio of 33.71.
Mead Johnson Nutrition (NYSE:MJN) last issued its earnings results on Thursday, April 28th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.02. The company earned $962.10 million during the quarter, compared to analyst estimates of $957.03 million. The business’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts expect that Mead Johnson Nutrition Co. will post $3.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Monday, June 20th were given a $0.4125 dividend. The ex-dividend date was Thursday, June 16th. This represents a $1.65 annualized dividend and a dividend yield of 1.85%.
In other news, SVP Christoper Richard Stratton sold 33,730 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $86.66, for a total value of $2,923,041.80. Following the completion of the sale, the senior vice president now owns 5,696 shares of the company’s stock, valued at $493,615.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Other institutional investors recently bought and sold shares of the company. Tredje AP fonden raised its position 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 during the period. Sawtooth Asset Management Inc. raised its position in Mead Johnson Nutrition by 552.6% in the fourth quarter. Sawtooth Asset Management Inc. now owns 15,892 shares of the company’s stock valued at $1,255,000 after buying an additional 13,457 shares during the period. Atlantic Trust Group LLC raised its position in Mead Johnson Nutrition by 0.9% in the fourth quarter. Atlantic Trust Group LLC now owns 15,939 shares of the company’s stock valued at $1,258,000 after buying an additional 136 shares during the period. Samsung Asset Management New York Inc. bought a new position in Mead Johnson Nutrition during the fourth quarter valued at $1,288,000. Finally, Bank of Hawaii raised its position in Mead Johnson Nutrition by 13.2% in the fourth quarter. Bank of Hawaii now owns 16,940 shares of the company’s stock valued at $1,337,000 after buying an additional 1,981 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.