Johnson & Johnson (NYSE:JNJ) Stock Position Raised by Burgundy Asset Management Ltd.

Posted by Defense World Staff on Aug 29th, 2023

Burgundy Asset Management Ltd. raised its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 44.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,246,550 shares of the company’s stock after purchasing an additional 382,744 shares during the period. Johnson & Johnson accounts for approximately 2.4% of Burgundy Asset Management Ltd.’s holdings, making the stock its 12th biggest position. Burgundy Asset Management Ltd.’s holdings in Johnson & Johnson were worth $193,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC acquired a new position in Johnson & Johnson during the 4th quarter valued at about $35,000. Dark Forest Capital Management LP lifted its stake in shares of Johnson & Johnson by 1,044.4% in the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after acquiring an additional 188 shares during the period. Ruedi Wealth Management Inc. acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $42,000. Kepos Capital LP acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $45,000. Finally, 25 LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $55,000. 68.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson stock in a transaction dated Tuesday, July 25th. The shares were 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 directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Hait sold 14,698 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the completion of the transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,163 shares of company stock worth $7,928,856. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JNJ. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Tuesday, August 22nd. StockNews.com initiated coverage on shares of Johnson & Johnson in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. Stifel Nicolaus increased their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. Barclays increased their target price on shares of Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. Finally, Credit Suisse Group increased their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research note 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, the stock has an average rating of “Hold” and a consensus target price of $171.80.

View Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Stock Down 1.2 %

JNJ stock opened at $164.30 on Tuesday. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market cap of $427.01 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 2.79 and a beta of 0.54. The company has a 50 day moving average of $166.68 and a two-hundred day moving average of $161.49.

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

Johnson & Johnson Announces Dividend

The company also recently announced 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 of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a yield of 2.90%. Johnson & Johnson’s payout ratio is presently 96.36%.

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.