Johnson & Johnson $JNJ is Burgundy Asset Management Ltd.'s 10th Largest Position

Key Points

• Burgundy Asset Management Ltd. reduced its holdings in Johnson & Johnson by 3.2% in the first quarter, now owning 1,169,327 shares valued at approximately $193.9 million.
• Johnson & Johnson recently reported a quarterly EPS of $2.77, surpassing estimates, with quarterly revenue reaching $23.74 billion, up 5.8% year-over-year.
• The company declared a quarterly dividend of $1.30 per share, set to be paid on September 9th, which represents an annual yield of 2.9% based on the current share price.

Burgundy Asset Management Ltd. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,169,327 shares of the company's stock after selling 38,036 shares during the quarter. Johnson & Johnson comprises approximately 2.0% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 10th biggest holding. Burgundy Asset Management Ltd.'s holdings in Johnson & Johnson were worth $193,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after purchasing an additional 1,170,120 shares during the period. Northern Trust Corp grew its position in Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Bank of New York Mellon Corp raised its position in Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Johnson & Johnson by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after purchasing an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after purchasing an additional 448,666 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.2%

Shares of NYSE JNJ traded down $0.38 during trading hours on Monday, hitting $176.26. The company's stock had a trading volume of 9,283,816 shares, compared to its average volume of 8,411,460. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market cap of $424.49 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.25 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $177.57. The business has a 50-day simple moving average of $161.70 and a 200-day simple moving average of $158.60.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. On average, analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JNJ. Morgan Stanley raised their price target on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Guggenheim restated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Royal Bank Of Canada raised their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Bank of America raised their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.