Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 93,030 Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 24th, 2023

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 93,030 shares of the company’s stock, valued at approximately $14,420,000. Johnson & Johnson comprises approximately 1.2% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 12th biggest position.

Other hedge funds have also recently made changes to their positions in the company. GW&K Investment Management LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $35,000. Dark Forest Capital Management LP lifted its stake 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 buying an additional 188 shares in the last quarter. Ruedi Wealth Management Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $42,000. Kepos Capital LP purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $45,000. Finally, 25 LLC purchased a new stake in Johnson & Johnson in the 1st quarter worth approximately $55,000. 67.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of 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 document filed with the SEC, which is accessible through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the transaction, the vice president now owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,163 shares of company stock worth $7,928,856. 0.20% of the stock is owned by company insiders.

Johnson & Johnson Stock Down 0.9 %

Shares of Johnson & Johnson stock opened at $164.54 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a market capitalization of $427.63 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 2.81 and a beta of 0.54. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. The company has a 50-day simple moving average of $166.61 and a two-hundred day simple moving average of $161.45.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The business had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same period in the previous year, the company earned $2.59 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.75 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.89%. Johnson & Johnson’s dividend payout ratio is presently 96.36%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JNJ shares. Citigroup began coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price on the stock. Raymond James increased their target price on shares of Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Stifel Nicolaus raised their price target on shares of Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. StockNews.com started coverage on shares of Johnson & Johnson in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $187.00 target price on shares of Johnson & Johnson in a research note on Friday, July 21st. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.80.

Get Our Latest Analysis 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.