Nordea Investment Management AB raised its position in shares of Mead Johnson Nutrition Co. (NYSE:MJN) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 609,915 shares of the company’s stock after buying an additional 22,012 shares during the period. Nordea Investment Management AB’s holdings in Mead Johnson Nutrition were worth $55,350,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of MJN. Checchi Capital Advisers LLC increased its position in Mead Johnson Nutrition by 2.5% in the second quarter. Checchi Capital Advisers LLC now owns 1,418 shares of the company’s stock worth $129,000 after buying an additional 35 shares in the last quarter. Pitcairn Co. increased its position in Mead Johnson Nutrition by 0.3% in the second quarter. Pitcairn Co. now owns 29,949 shares of the company’s stock worth $2,718,000 after buying an additional 88 shares in the last quarter. LPL Financial LLC increased its position in Mead Johnson Nutrition by 0.7% in the first quarter. LPL Financial LLC now owns 13,023 shares of the company’s stock worth $1,086,000 after buying an additional 91 shares in the last quarter. Cannell Peter B & Co Inc increased its position in Mead Johnson Nutrition by 3.3% in the first quarter. Cannell Peter B & Co Inc now owns 3,917 shares of the company’s stock worth $333,000 after buying an additional 125 shares in the last quarter. Finally, Halsey Associates Inc. CT increased its position in Mead Johnson Nutrition by 3.6% in the first quarter. Halsey Associates Inc. CT now owns 6,112 shares of the company’s stock worth $519,000 after buying an additional 212 shares in the last quarter. Institutional investors own 96.93% of the company’s stock.
Shares of Mead Johnson Nutrition Co. (NYSE:MJN) traded down 1.67% during mid-day trading on Monday, reaching $79.61. 1,709,789 shares of the company traded hands. The stock’s 50-day moving average is $79.78 and its 200-day moving average is $84.62. The company has a market capitalization of $14.70 billion, a P/E ratio of 29.95 and a beta of 1.26. Mead Johnson Nutrition Co. has a 52 week low of $65.53 and a 52 week high of $94.40.
Mead Johnson Nutrition (NYSE:MJN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. The firm earned $941.50 million during the quarter, compared to analysts’ expectations of $967.25 million. Mead Johnson Nutrition had a net margin of 13.28% and a negative return on equity of 194.30%. Mead Johnson Nutrition’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. On average, equities analysts predict that Mead Johnson Nutrition Co. will post $3.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, September 15th. Mead Johnson Nutrition’s dividend payout ratio (DPR) is presently 62.03%.
A number of research analysts recently issued reports on the stock. Deutsche Bank AG set a $88.00 target price on shares of Mead Johnson Nutrition and gave the company a “hold” rating in a research report on Sunday, July 24th. Susquehanna restated a “hold” rating on shares of Mead Johnson Nutrition in a research report on Sunday, July 17th. Credit Agricole SA upgraded shares of Mead Johnson Nutrition from an “underperform” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. restated a “neutral” rating and set a $96.00 target price (up from $91.00) on shares of Mead Johnson Nutrition in a research report on Friday, July 15th. Finally, 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 report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $94.33.
In other news, SVP Graciela Monteagudo sold 45,873 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $87.64, for a total value of $4,020,309.72. Following the completion of the sale, the senior vice president now owns 13,800 shares in the company, valued at approximately $1,209,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimberly A. Casiano sold 710 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $89.75, for a total transaction of $63,722.50. Following the completion of the sale, the director now owns 7,110 shares of the company’s stock, valued at approximately $638,122.50. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.
Mead Johnson Nutrition Company Profile
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.