World Asset Management Inc increased its position in Mead Johnson Nutrition Co. (NYSE:MJN) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 18,444 shares of the company’s stock after buying an additional 215 shares during the period. World Asset Management Inc’s holdings in Mead Johnson Nutrition were worth $1,457,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Eaton Vance Management increased its stake in shares of Mead Johnson Nutrition by 0.4% in the second quarter. Eaton Vance Management now owns 4,541 shares of the company’s stock worth $412,000 after buying an additional 17 shares in the last quarter. Veritable L.P. increased its stake in shares of Mead Johnson Nutrition by 0.4% in the second quarter. Veritable L.P. now owns 5,642 shares of the company’s stock worth $512,000 after buying an additional 20 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Mead Johnson Nutrition by 1.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,750 shares of the company’s stock worth $250,000 after buying an additional 49 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Mead Johnson Nutrition by 3.6% in the second quarter. Pacer Advisors Inc. now owns 3,079 shares of the company’s stock worth $279,000 after buying an additional 106 shares in the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of Mead Johnson Nutrition by 0.8% in the second quarter. Advantus Capital Management Inc now owns 18,190 shares of the company’s stock worth $1,651,000 after buying an additional 140 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.
Mead Johnson Nutrition Co. (NYSE:MJN) traded down 0.53% during mid-day trading on Thursday, reaching $74.85. The company had a trading volume of 2,543,154 shares. The firm has a 50-day moving average price of $71.73 and a 200 day moving average price of $79.21. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 27.81 and a beta of 1.40. Mead Johnson Nutrition Co. has a 12-month low of $65.53 and a 12-month high of $94.40.
Mead Johnson Nutrition (NYSE:MJN) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Mead Johnson Nutrition had a negative return on equity of 119.05% and a net margin of 13.26%. The company earned $937.50 million during the quarter, compared to analysts’ expectations of $933.43 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts expect that Mead Johnson Nutrition Co. will post $3.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 23rd were given a dividend of $0.4125 per share. The ex-dividend date was Wednesday, December 21st. This represents a $1.65 annualized dividend and a dividend yield of 2.20%. Mead Johnson Nutrition’s dividend payout ratio is presently 61.34%.
MJN has been the subject of several recent analyst reports. Berenberg Bank initiated coverage on Mead Johnson Nutrition in a research note on Wednesday. They set a “sell” rating and a $66.00 target price for the company. BMO Capital Markets restated an “outperform” rating and set a $96.00 target price (down from $97.00) on shares of Mead Johnson Nutrition in a research note on Saturday, October 8th. Zacks Investment Research cut Mead Johnson Nutrition from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Susquehanna restated a “hold” rating and set a $90.00 target price on shares of Mead Johnson Nutrition in a research note on Wednesday, October 19th. Finally, JPMorgan Chase & Co. cut Mead Johnson Nutrition from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $75.00 in a research note on Friday, October 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $86.62.
In related news, Director Anna C. Catalano sold 656 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $74.99, for a total transaction of $49,193.44. Following the completion of the transaction, the director now owns 8,796 shares of the company’s stock, valued at approximately $659,612.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
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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