Canal Capital Management LLC Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 22nd, 2023

Canal Capital Management LLC increased its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,036 shares of the company’s stock after acquiring an additional 1,272 shares during the period. Johnson & Johnson comprises approximately 1.5% of Canal Capital Management LLC’s holdings, making the stock its 10th largest position. Canal Capital Management LLC’s holdings in Johnson & Johnson were worth $6,366,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kestra Advisory Services LLC increased its stake in shares of Johnson & Johnson by 15.0% in the 4th quarter. Kestra Advisory Services LLC now owns 376,009 shares of the company’s stock worth $66,422,000 after purchasing an additional 49,151 shares in the last quarter. Triumph Capital Management boosted its holdings in Johnson & Johnson by 9.0% in the 4th quarter. Triumph Capital Management now owns 2,127 shares of the company’s stock worth $376,000 after buying an additional 176 shares during the period. Woodmont Investment Counsel LLC boosted its holdings in Johnson & Johnson by 0.4% in the 4th quarter. Woodmont Investment Counsel LLC now owns 72,491 shares of the company’s stock worth $12,806,000 after buying an additional 305 shares during the period. AE Wealth Management LLC boosted its holdings in Johnson & Johnson by 3.9% in the 4th quarter. AE Wealth Management LLC now owns 255,000 shares of the company’s stock worth $45,046,000 after buying an additional 9,473 shares during the period. Finally, United Capital Management of KS Inc. boosted its holdings in Johnson & Johnson by 2.8% in the 4th quarter. United Capital Management of KS Inc. now owns 25,532 shares of the company’s stock worth $4,510,000 after buying an additional 697 shares during the period. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the sale, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $162.69 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. The firm’s 50 day simple moving average is $157.48 and its 200-day simple moving average is $166.96. Johnson & Johnson has a one year low of $150.11 and a one year high of $186.69. The firm has a market cap of $423.69 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 35.53%. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same period last year, the firm earned $2.67 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.93%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 94.56%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a report on Wednesday. SVB Leerink dropped their price objective on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Guggenheim assumed coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective for the company. StockNews.com began coverage on shares of Johnson & Johnson in a report on Thursday, March 16th. They set a “strong-buy” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 1st. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

About Johnson & Johnson

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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 MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.