Burgundy Asset Management Ltd. Sells 343,945 Shares of Johnson & Johnson (NYSE:JNJ)

Burgundy Asset Management Ltd. reduced its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 27.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 891,079 shares of the company’s stock after selling 343,945 shares during the quarter. Johnson & Johnson accounts for about 2.0% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 15th biggest holding. Burgundy Asset Management Ltd.’s holdings in Johnson & Johnson were worth $158,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of JNJ. Palisade Capital Management LLC NJ boosted its holdings in shares of Johnson & Johnson by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock worth $16,507,000 after buying an additional 250 shares during the last quarter. Lmcg Investments LLC bought a new position in Johnson & Johnson during the first quarter valued at $12,462,000. Capital Wealth Planning LLC boosted its stake in shares of Johnson & Johnson by 14.0% during the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock valued at $162,445,000 after purchasing an additional 112,890 shares during the period. Tandem Investment Advisors Inc. lifted its stake in Johnson & Johnson by 4.8% in the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock worth $57,867,000 after acquiring an additional 15,003 shares during the period. Finally, Tcwp LLC purchased a new stake in Johnson & Johnson in the first quarter worth about $946,000. 68.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, insider William Hait sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.55, for a total value of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares in the company, valued at $13,764,485.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider William Hait sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.55, for a total value of $2,573,250.00. Following the transaction, the insider now owns 80,236 shares of the company’s stock, valued at $13,764,485.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Peter Fasolo sold 29,275 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares in the company, valued at approximately $19,650,879.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,723 shares of company stock worth $23,192,574. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. Sanford C. Bernstein decreased their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. StockNews.com started coverage on shares of Johnson & Johnson in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Credit Suisse Group began coverage on shares of Johnson & Johnson in a research note on Thursday, November 17th. They set a “neutral” rating and a $170.00 price objective on the stock. Bank of America decreased their target price on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday, October 14th. Finally, Barclays assumed coverage on Johnson & Johnson in a report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $181.33.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $175.97 on Tuesday. The company has a market cap of $460.07 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The stock has a 50-day moving average of $168.04 and a two-hundred day moving average of $171.28. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm had revenue of $23.79 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson declared that its board has initiated a share buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is currently 62.95%.

Johnson & Johnson 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.

Further Reading

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

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