Mead Johnson Nutrition Co. (MJN) Price Target Cut to $85.00 by Analysts at Goldman Sachs Group Inc.
Mead Johnson Nutrition Co. (NYSE:MJN) had its price target decreased by Goldman Sachs Group Inc. from $96.00 to $85.00 in a report published on Tuesday morning. Goldman Sachs Group Inc. currently has a neutral rating on the stock.
MJN has been the subject of several other research reports. Credit Agricole SA upgraded Mead Johnson Nutrition from an underperform rating to an outperform rating and set a $96.00 price objective for the company in a research report on Wednesday, August 3rd. Deutsche Bank AG set a $88.00 price objective on Mead Johnson Nutrition and gave the company a hold rating in a research report on Sunday, July 24th. BMO Capital Markets reiterated an outperform rating and issued a $97.00 price objective on shares of Mead Johnson Nutrition in a research report on Monday, August 1st. Susquehanna reiterated a hold rating and issued a $95.00 price objective on shares of Mead Johnson Nutrition in a research report on Monday, August 29th. Finally, Credit Suisse Group AG set a $100.00 price objective on Mead Johnson Nutrition and gave the company a buy rating in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $94.83.
Shares of Mead Johnson Nutrition (NYSE:MJN) traded up 0.81% on Tuesday, hitting $77.40. The stock had a trading volume of 239,777 shares. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 29.12 and a beta of 1.17. The firm has a 50 day moving average price of $82.42 and a 200-day moving average price of $84.87. Mead Johnson Nutrition 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 data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.10. Mead Johnson Nutrition had a negative return on equity of 194.30% and a net margin of 13.28%. The firm earned $941.50 million during the quarter, compared to the consensus estimate of $967.25 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts anticipate that Mead Johnson Nutrition will post $3.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be issued a dividend of $0.4125 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.65 annualized dividend and a yield of 2.15%. Mead Johnson Nutrition’s payout ratio is presently 62.03%.
In related news, Director Kimberly A. Casiano sold 710 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $89.75, for a total transaction of $63,722.50. Following the sale, the director now owns 7,110 shares in the company, valued at $638,122.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Graciela Monteagudo sold 45,873 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $87.64, for a total value of $4,020,309.72. Following the sale, the senior vice president now owns 13,800 shares in the company, valued at approximately $1,209,432. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MJN. Northwestern Mutual Wealth Management Co. raised its stake in Mead Johnson Nutrition by 11.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,287 shares of the company’s stock valued at $118,000 after buying an additional 131 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in Mead Johnson Nutrition during the second quarter valued at about $128,000. Checchi Capital Advisers LLC raised its stake 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 valued at $129,000 after buying an additional 35 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new stake in Mead Johnson Nutrition during the second quarter valued at about $180,000. Finally, East Coast Asset Management LLC. acquired a new stake in Mead Johnson Nutrition during the first quarter valued at about $208,000. Institutional investors and hedge funds own 96.93% of the company’s stock.
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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