Outfitter Financial LLC Has $2.59 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Jul 27th, 2023

Outfitter Financial LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,737 shares of the company’s stock after acquiring an additional 399 shares during the period. Johnson & Johnson comprises approximately 2.3% of Outfitter Financial LLC’s holdings, making the stock its 9th largest position. Outfitter Financial LLC’s holdings in Johnson & Johnson were worth $2,594,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of JNJ. GW&K Investment Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter valued at about $35,000. Dark Forest Capital Management LP boosted its holdings in shares of Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after purchasing an additional 188 shares during the last quarter. Ruedi Wealth Management Inc. bought a new position in shares of Johnson & Johnson during the 4th quarter valued at about $42,000. Kepos Capital LP bought a new position in shares of Johnson & Johnson during the 4th quarter valued at about $45,000. Finally, VitalStone Financial LLC bought a new position in shares of Johnson & Johnson during the 4th quarter valued at about $52,000. Institutional investors own 67.57% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $172.72 on Thursday. The firm has a market cap of $448.85 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 2.87 and a beta of 0.55. The firm’s 50 day simple moving average is $160.60 and its 200-day simple moving average is $161.20. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 37.01%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.59 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 10.76 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.76%. Johnson & Johnson’s dividend payout ratio is presently 96.36%.

Insider Activity

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley reissued an “equal weight” rating and set a $187.00 price objective on shares of Johnson & Johnson in a report on Friday, July 21st. Raymond James upped their target price on shares of Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday. TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Atlantic Securities decreased their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Finally, Credit Suisse Group upped their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Hold” and a consensus price target of $171.60.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.

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

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