Johnson & Johnson (NYSE:JNJ) Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC trimmed its position in Johnson & Johnson (NYSE:JNJGet Rating) by 3.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,944 shares of the company’s stock after selling 825 shares during the period. Johnson & Johnson accounts for about 2.7% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 5th biggest holding. Cox Capital Mgt LLC’s holdings in Johnson & Johnson were worth $3,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JNJ. KRS Capital Management LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $625,000. Accretive Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 3.5% during the fourth quarter. Accretive Wealth Partners LLC now owns 10,915 shares of the company’s stock valued at $1,867,000 after buying an additional 366 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Johnson & Johnson by 8.8% during the fourth quarter. Invesco Ltd. now owns 12,526,010 shares of the company’s stock valued at $2,142,824,000 after buying an additional 1,012,136 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. raised its holdings in shares of Johnson & Johnson by 11.8% during the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 213,980 shares of the company’s stock valued at $36,606,000 after buying an additional 22,669 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Johnson & Johnson by 19.2% during the fourth quarter. Schroder Investment Management Group now owns 3,885,599 shares of the company’s stock valued at $664,709,000 after buying an additional 625,627 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE JNJ opened at $167.60 on Monday. The stock has a market capitalization of $440.65 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.99 and a beta of 0.61. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The business’s fifty day moving average is $168.96 and its two-hundred day moving average is $174.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The firm had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. During the same period in the previous year, the company posted $2.48 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson declared that its board has authorized a stock repurchase program on Wednesday, September 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.70%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JNJ shares. Citigroup cut their price target on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Daiwa Capital Markets started coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Wells Fargo & Company boosted their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. SVB Leerink dropped their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Finally, UBS Group dropped their target price on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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