Canal Capital Management LLC lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,488 shares of the company’s stock after buying an additional 594 shares during the quarter. Johnson & Johnson makes up 1.5% of Canal Capital Management LLC’s holdings, making the stock its 23rd largest holding. Canal Capital Management LLC’s holdings in Johnson & Johnson were worth $2,521,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of JNJ. WoodTrust Financial Corp boosted its position in Johnson & Johnson by 4.2% during the third quarter. WoodTrust Financial Corp now owns 46,335 shares of the company’s stock valued at $5,995,000 after purchasing an additional 1,848 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Johnson & Johnson during the third quarter valued at about $2,939,000. Billeaud Capital Management Inc. boosted its position in Johnson & Johnson by 0.4% during the second quarter. Billeaud Capital Management Inc. now owns 44,014 shares of the company’s stock valued at $6,130,000 after purchasing an additional 169 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Johnson & Johnson by 11.1% during the second quarter. Meeder Asset Management Inc. now owns 109,690 shares of the company’s stock valued at $15,277,000 after purchasing an additional 10,927 shares in the last quarter. Finally, Lucia Wealth Services LLC boosted its position in Johnson & Johnson by 2.1% during the third quarter. Lucia Wealth Services LLC now owns 131,950 shares of the company’s stock valued at $17,072,000 after purchasing an additional 2,744 shares in the last quarter. 72.25% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on JNJ. Atlantic Securities raised Johnson & Johnson from an “underweight” rating to a “neutral” rating in a research report on Wednesday, October 16th. Zacks Investment Research upgraded Johnson & Johnson from a “sell” rating to a “hold” rating and set a $142.00 price target for the company in a research note on Thursday, October 17th. Bank of America reiterated a “hold” rating and issued a $150.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $145.00 price target on shares of Johnson & Johnson in a research note on Tuesday, August 27th. Finally, Wells Fargo & Co decreased their price target on Johnson & Johnson from $157.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $151.64.
Johnson & Johnson stock opened at $130.96 on Thursday. The stock has a 50-day moving average of $130.77 and a two-hundred day moving average of $134.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.26. Johnson & Johnson has a one year low of $121.00 and a one year high of $148.99. The stock has a market cap of $342.75 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.12. Johnson & Johnson had a return on equity of 39.81% and a net margin of 21.09%. The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $20.14 billion. During the same period last year, the business posted $2.05 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 8.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 46.45%.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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