Coho Partners Ltd. Has $47.04 Million Stock Position in Johnson & Johnson $JNJ

Key Points

• Coho Partners Ltd. reduced its stake in Johnson & Johnson by 15.1%, resulting in ownership of 307,974 shares valued at approximately $47.04 million.
• Wall Street analysts are optimistic about JNJ's prospects, with the average price target set at $199.59 and several analysts rating the stock as a Moderate Buy.
• Johnson & Johnson plans to pay a quarterly dividend of $1.30 per share on December 9th, indicating a strong commitment to returning value to investors.

Coho Partners Ltd. reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 307,974 shares of the company's stock after selling 54,673 shares during the period. Johnson & Johnson comprises 3.5% of Coho Partners Ltd.'s holdings, making the stock its 15th largest position. Coho Partners Ltd.'s holdings in Johnson & Johnson were worth $47,043,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. GFG Capital LLC acquired a new stake in Johnson & Johnson during the second quarter worth approximately $35,000. Stone House Investment Management LLC acquired a new stake in Johnson & Johnson during the first quarter worth approximately $47,000. 1248 Management LLC acquired a new stake in Johnson & Johnson during the first quarter worth approximately $48,000. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson during the first quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson during the first quarter worth approximately $52,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Bank of America raised their price objective on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday, September 16th. Finally, Raymond James Financial lifted their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an "outperform" rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $199.59.

Johnson & Johnson Stock Up 0.6%

NYSE JNJ opened at $193.27 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.40. The company has a 50 day moving average of $180.49 and a 200-day moving average of $164.86. The company has a market cap of $465.45 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio (DPR) is 50.19%.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Profile

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.

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