Global Thematic Partners LLC Boosts Position in Mead Johnson Nutrition Co. (MJN)
Global Thematic Partners LLC increased its position in Mead Johnson Nutrition Co. (NYSE:MJN) by 70.5% during the third quarter, Holdings Channel reports. The institutional investor owned 46,936 shares of the company’s stock after buying an additional 19,408 shares during the period. Global Thematic Partners LLC’s holdings in Mead Johnson Nutrition were worth $3,708,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC boosted its position in shares of Mead Johnson Nutrition by 96.1% in the third quarter. Penserra Capital Management LLC now owns 1,373 shares of the company’s stock worth $108,000 after buying an additional 673 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 worth $118,000 after buying an additional 131 shares in the last quarter. FNY Managed Accounts LLC bought a new position in shares of Mead Johnson Nutrition during the third quarter worth $125,000. Pinkerton Retirement Specialists LLC bought a new position in shares of Mead Johnson Nutrition during the second quarter worth $128,000. Finally, Checchi Capital Advisers LLC boosted its position in shares of 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. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
Mead Johnson Nutrition Co. (NYSE:MJN) traded down 0.58% during midday trading on Wednesday, reaching $72.09. The company had a trading volume of 1,789,147 shares. The company’s 50-day moving average is $75.36 and its 200 day moving average is $82.35. The company has a market cap of $13.32 billion, a PE ratio of 26.79 and a beta of 1.43. 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 announced its quarterly earnings results on Thursday, October 27th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $933.43 million. During the same period in the prior year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Mead Johnson Nutrition Co. will post $3.45 EPS for the current year.
A number of equities analysts recently weighed in on the company. Goldman Sachs Group Inc. dropped their price target on Mead Johnson Nutrition from $96.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 27th. raised Mead Johnson Nutrition from an “underperform” rating to an “outperform” rating and set a $96.00 target price on the stock in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. cut Mead Johnson Nutrition from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $75.00 in a research note on Friday, October 28th. Susquehanna reaffirmed a “hold” rating and set a $95.00 target price on shares of Mead Johnson Nutrition in a research note on Monday, August 29th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $90.00 target price on shares of Mead Johnson Nutrition in a research note on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Mead Johnson Nutrition has an average rating of “Hold” and an average price target of $88.33.
In other Mead Johnson Nutrition news, Director Anna C. Catalano sold 656 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $74.99, for a total value of $49,193.44. Following the completion of the sale, the director now directly owns 8,796 shares in the company, valued at $659,612.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company 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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