Mackenzie Financial Corp Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Mackenzie Financial Corp raised its stake in Johnson & Johnson by 9.0% during Q1, now holding approximately 3.4 million shares valued at $561 million.
• Multiple analysts have updated their target prices for Johnson & Johnson, with Barclays and UBS increasing theirs to $176.00 and $190.00 respectively, indicating a generally positive outlook.
• Johnson & Johnson's latest earnings report showed an EPS of $2.77, surpassing estimates and reflecting a 5.8% year-over-year revenue increase.

Mackenzie Financial Corp lifted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,383,687 shares of the company's stock after acquiring an additional 278,081 shares during the quarter. Mackenzie Financial Corp owned approximately 0.14% of Johnson & Johnson worth $561,151,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Conquis Financial LLC acquired a new position in Johnson & Johnson during the fourth quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $36,000. Highline Wealth Partners LLC increased its stake in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson during the first quarter worth about $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $50,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the subject of a number of research reports. Barclays boosted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. UBS Group upped their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial decreased their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. 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's stock. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Trading Down 0.7%

NYSE JNJ opened at $168.29 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm's fifty day moving average price is $156.08 and its 200 day moving average price is $155.97. The company has a market capitalization of $404.92 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

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

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.