Mead Johnson Nutrition Co. (MJN) Sets New 52-Week High at $92.02
Mead Johnson Nutrition Co. (NYSE:MJN)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $92.02 and last traded at $91.58, with a volume of 524,770 shares trading hands. The stock had previously closed at $91.24.
MJN has been the subject of several research reports. Susquehanna reissued a “hold” rating on shares of Mead Johnson Nutrition in a research note on Thursday, June 16th. Zacks Investment Research raised shares of Mead Johnson Nutrition from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Bank of America Corp. raised shares of Mead Johnson Nutrition from an “underperform” rating to a “neutral” rating and set a $93.00 price objective for the company in a research note on Wednesday, July 13th. Credit Suisse Group AG reissued a “buy” rating and issued a $96.00 price objective on shares of Mead Johnson Nutrition in a research note on Thursday, June 30th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $96.00 price objective (up previously from $91.00) on shares of Mead Johnson Nutrition in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Mead Johnson Nutrition presently has an average rating of “Hold” and an average target price of $89.44.
The stock has a market capitalization of $17.15 billion and a P/E ratio of 34.65. The firm has a 50 day moving average of $87.69 and a 200-day moving average of $80.83.
Mead Johnson Nutrition (NYSE:MJN) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $962.10 million for the quarter, compared to analysts’ expectations of $957.03 million. During the same period in the prior year, the firm posted $1.09 EPS. Mead Johnson Nutrition’s revenue was down 12.1% on a year-over-year basis. On average, equities analysts anticipate that Mead Johnson Nutrition Co. will post $3.51 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $1.65 annualized dividend and a yield of 1.80%.
In other Mead Johnson Nutrition news, SVP Christoper Richard Stratton sold 33,730 shares of the business’s 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 completion of the transaction, the senior vice president now owns 5,696 shares of the company’s stock, valued at approximately $493,615.36. The transaction was disclosed in a filing with the SEC, which is available through this link.
A number of institutional investors recently added to or reduced their stakes in MJN. Tredje AP fonden boosted 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 worth $1,087,000 after buying an additional 133 shares in the last quarter. Sawtooth Asset Management Inc. raised its stake in shares of Mead Johnson Nutrition by 552.6% in the fourth quarter. Sawtooth Asset Management Inc. now owns 15,892 shares of the company’s stock worth $1,255,000 after buying an additional 13,457 shares during the last quarter. Atlantic Trust Group LLC raised its stake 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. Marshall Wace LLP acquired a new stake in shares of Mead Johnson Nutrition during the fourth quarter worth $1,991,000. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Mead Johnson Nutrition by 5.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 26,865 shares of the company’s stock worth $2,121,000 after buying an additional 1,404 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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