Canaccord Genuity reiterated their speculative buy rating on shares of Mead Johnson Nutrition CO (NYSE:MJN) in a research report report published on Wednesday, StockTargetPrices.com reports.
MJN has been the topic of a number of other research reports. Zacks Investment Research cut shares of Mead Johnson Nutrition CO from a hold rating to a sell rating in a report on Friday, April 28th. Wells Fargo & Company cut shares of Mead Johnson Nutrition CO from an outperform rating to a market perform rating and set a $89.00 price objective on the stock. in a report on Monday, April 3rd. BMO Capital Markets restated a hold rating and issued a $90.00 price objective on shares of Mead Johnson Nutrition CO in a report on Thursday, June 15th. BidaskClub upgraded shares of Mead Johnson Nutrition CO from a sell rating to a hold rating in a report on Wednesday, June 14th. Finally, Susquehanna Bancshares Inc set a $90.00 target price on shares of Mead Johnson Nutrition CO and gave the stock a hold rating in a research note on Saturday, April 1st. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $84.83.
Shares of Mead Johnson Nutrition CO (MJN) traded down 0.01% during mid-day trading on Wednesday, hitting $89.98. The stock had a trading volume of 11,923,467 shares. The stock’s 50-day moving average is $89.62 and its 200 day moving average is $84.34. Mead Johnson Nutrition CO has a 1-year low of $69.25 and a 1-year high of $94.40.
Mead Johnson Nutrition CO (NYSE:MJN) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $883.50 million during the quarter, compared to analysts’ expectations of $911.63 million. Mead Johnson Nutrition CO’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. On average, equities research analysts forecast that Mead Johnson Nutrition CO will post $3.30 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Tuesday, June 20th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.83%. Mead Johnson Nutrition CO’s dividend payout ratio (DPR) is presently 51.72%.
Several hedge funds have recently made changes to their positions in MJN. Meeder Asset Management Inc. purchased a new stake in shares of Mead Johnson Nutrition CO during the first quarter worth about $106,000. Oppenheimer Asset Management Inc. bought a new position in Mead Johnson Nutrition CO during the first quarter valued at $120,000. Creative Planning boosted its position in Mead Johnson Nutrition CO by 4.3% in the first quarter. Creative Planning now owns 2,169 shares of the company’s stock valued at $193,000 after buying an additional 89 shares during the last quarter. Fiduciary Trust Co. bought a new position in Mead Johnson Nutrition CO during the first quarter valued at $205,000. Finally, St. Louis Trust Co bought a new position in Mead Johnson Nutrition CO during the first quarter valued at $212,000. 88.40% of the stock is owned by hedge funds and other institutional investors.
About Mead Johnson Nutrition CO
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, Latin America and North America/Europe. 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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