Canal Capital Management LLC Purchases 1,567 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 10th, 2023

Canal Capital Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,603 shares of the company’s stock after acquiring an additional 1,567 shares during the period. Johnson & Johnson accounts for 1.3% of Canal Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Canal Capital Management LLC’s holdings in Johnson & Johnson were worth $5,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after acquiring an additional 54,326,454 shares in the last quarter. Norges Bank bought a new position in Johnson & Johnson in the fourth quarter worth about $4,609,399,000. Morgan Stanley grew its holdings in shares of Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the period. Nordwand Advisors LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $785,273,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Johnson & Johnson by 15.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock valued at $5,171,919,000 after purchasing an additional 3,849,148 shares during the period. 67.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the transaction, the vice president now directly owns 102,696 shares in the company, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock valued at $7,928,856 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Johnson & Johnson Trading Down 0.1 %

Shares of JNJ stock opened at $173.07 on Thursday. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $164.21 and its two-hundred day simple moving average is $161.13. The company has a market cap of $449.80 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.90 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The firm had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 earnings per share. Research analysts predict that Johnson & Johnson will post 10.75 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be paid a $1.19 dividend. The ex-dividend date is Friday, August 25th. This represents a $4.76 annualized dividend and a yield of 2.75%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JNJ shares. Morgan Stanley reiterated an “equal weight” rating and set a $187.00 price objective on shares of Johnson & Johnson in a research note on Friday, July 21st. Stifel Nicolaus lifted their price objective on Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. Credit Suisse Group lifted their target price on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Raymond James lifted their price objective on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Hold” and an average price target of $171.80.

View Our Latest Research Report on Johnson & Johnson

About Johnson & Johnson

(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.