Mackay Shields LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Mackay Shields LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,864 shares of the company’s stock after selling 122,501 shares during the quarter. Johnson & Johnson comprises approximately 0.6% of Mackay Shields LLC’s investment portfolio, making the stock its 28th biggest holding. Mackay Shields LLC’s holdings in Johnson & Johnson were worth $68,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its holdings in Johnson & Johnson by 42.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,004,994 shares of the company’s stock valued at $1,479,971,000 after purchasing an additional 2,688,957 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Johnson & Johnson by 15.8% in the second quarter. Franklin Resources Inc. now owns 16,118,269 shares of the company’s stock worth $2,655,321,000 after acquiring an additional 2,197,757 shares during the period. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.7% in the second quarter. Vanguard Group Inc. now owns 231,432,368 shares of the company’s stock worth $38,126,168,000 after acquiring an additional 1,701,721 shares during the period. BlackRock Inc. raised its position in shares of Johnson & Johnson by 0.9% in the second quarter. BlackRock Inc. now owns 191,385,110 shares of the company’s stock worth $31,528,781,000 after acquiring an additional 1,694,112 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Johnson & Johnson by 55.4% in the first quarter. Canada Pension Plan Investment Board now owns 4,730,681 shares of the company’s stock worth $777,487,000 after acquiring an additional 1,685,664 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

JNJ stock traded up $1.62 during mid-day trading on Thursday, reaching $160.82. The company’s stock had a trading volume of 167,981 shares, compared to its average volume of 7,040,690. The stock has a market cap of $423.36 billion, a PE ratio of 23.94, a P/E/G ratio of 2.23 and a beta of 0.71. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a fifty-two week low of $133.65 and a fifty-two week high of $179.92. The company’s 50 day moving average is $168.96 and its two-hundred day moving average is $167.54.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, July 20th. The company reported $2.48 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.19. The company had revenue of $23.31 billion during the quarter, compared to the consensus estimate of $22.54 billion. Johnson & Johnson had a net margin of 19.92% and a return on equity of 37.06%. Johnson & Johnson’s quarterly revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. On average, analysts forecast that Johnson & Johnson will post 9.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Tuesday, August 24th were issued a $1.06 dividend. The ex-dividend date of this dividend was Monday, August 23rd. This represents a $4.24 dividend on an annualized basis and a yield of 2.64%. Johnson & Johnson’s payout ratio is 52.80%.

A number of research analysts have weighed in on the stock. Morgan Stanley downgraded shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and set a $187.00 price objective for the company. in a research report on Tuesday, September 7th. SVB Leerink reiterated a “buy” rating on shares of Johnson & Johnson in a research report on Thursday, July 29th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Johnson & Johnson in a research report on Thursday, October 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $190.38.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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