Mead Johnson Nutrition Co. (MJN) Shares Bought by KBC Group NV
KBC Group NV raised its stake in shares of Mead Johnson Nutrition Co. (NYSE:MJN) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,797 shares of the company’s stock after buying an additional 24,831 shares during the period. KBC Group NV owned approximately 0.06% of Mead Johnson Nutrition worth $8,517,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in MJN. Victory Capital Management Inc. raised its position in shares of Mead Johnson Nutrition by 22.3% in the third quarter. Victory Capital Management Inc. now owns 230,208 shares of the company’s stock valued at $18,189,000 after buying an additional 41,963 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Mead Johnson Nutrition during the third quarter valued at about $474,000. Aperio Group LLC raised its position in shares of Mead Johnson Nutrition by 11.5% in the third quarter. Aperio Group LLC now owns 63,167 shares of the company’s stock valued at $4,991,000 after buying an additional 6,498 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in shares of Mead Johnson Nutrition during the third quarter valued at about $4,416,000. Finally, First Trust Advisors LP raised its position in shares of Mead Johnson Nutrition by 394.3% in the third quarter. First Trust Advisors LP now owns 215,801 shares of the company’s stock valued at $17,050,000 after buying an additional 172,139 shares during the last quarter. Institutional investors own 94.72% of the company’s stock.
Mead Johnson Nutrition Co. (NYSE:MJN) traded up 0.78% during trading on Tuesday, hitting $72.29. The stock had a trading volume of 843,235 shares. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 26.86 and a beta of 1.43. The company has a 50-day moving average price of $75.58 and a 200-day moving average price of $82.43. 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 released its quarterly earnings data on Thursday, October 27th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $937.50 million for the quarter, compared to analysts’ expectations of $933.43 million. Mead Johnson Nutrition had a negative return on equity of 119.05% and a net margin of 13.26%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. Equities research analysts forecast that Mead Johnson Nutrition Co. will post $3.45 EPS for the current year.
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MJN has been the topic of several recent research reports. Susquehanna reiterated a “hold” rating and issued a $90.00 price target on shares of Mead Johnson Nutrition in a report on Wednesday, October 19th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $105.00 price target on shares of Mead Johnson Nutrition in a report on Friday, August 5th. Zacks Investment Research lowered Mead Johnson Nutrition from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Citigroup Inc. decreased their price target on Mead Johnson Nutrition from $106.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, September 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price target (down from $97.00) on shares of Mead Johnson Nutrition in a research report on Saturday, October 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $88.33.
In related news, Director Anna C. Catalano sold 656 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $74.99, for a total value of $49,193.44. Following the transaction, the director now directly 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 accessible through this hyperlink. 0.50% of the stock is owned by corporate 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.
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