Teachers Retirement System of The State of Kentucky Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,151 shares of the company’s stock after selling 114,300 shares during the period. Johnson & Johnson comprises 0.6% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 19th biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Johnson & Johnson were worth $47,554,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Sofos Investments Inc. increased its stake in Johnson & Johnson by 172.0% in the 1st quarter. Sofos Investments Inc. now owns 1,148 shares of the company’s stock valued at $33,000 after purchasing an additional 726 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Johnson & Johnson in the 1st quarter valued at approximately $35,000. Lake Point Wealth Management increased its stake in Johnson & Johnson by 144.4% in the 1st quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock valued at $38,000 after purchasing an additional 169 shares in the last quarter. Islay Capital Management LLC purchased a new position in Johnson & Johnson in the 2nd quarter valued at approximately $42,000. Finally, Lion Street Advisors LLC purchased a new position in Johnson & Johnson in the 1st quarter valued at approximately $45,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Shares of JNJ stock traded up $0.54 during mid-day trading on Tuesday, hitting $148.89. 3,658,125 shares of the company’s stock were exchanged, compared to its average volume of 8,477,668. Johnson & Johnson has a fifty-two week low of $109.16 and a fifty-two week high of $157.00. The stock has a 50-day simple moving average of $149.29 and a two-hundred day simple moving average of $144.17. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.40. The stock has a market cap of $392.00 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 3.27 and a beta of 0.68.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Thursday, July 16th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.17. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. The business had revenue of $18.34 billion for the quarter, compared to analysts’ expectations of $17.73 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 7.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, August 24th. Johnson & Johnson’s dividend payout ratio (DPR) is 46.54%.

Several equities analysts recently weighed in on the company. Stifel Nicolaus downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Zacks Investment Research downgraded Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 price objective for the company. in a research note on Tuesday, July 7th. ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Bank of America reiterated a “buy” rating on shares of Johnson & Johnson in a report on Monday, July 20th. Finally, Raymond James increased their target price on Johnson & Johnson from $157.00 to $158.00 and gave the company an “outperform” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $163.00.

In related news, EVP Kathryn E. Wengel sold 16,115 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total value of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at approximately $10,233,336.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ashley Mcevoy sold 29,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total value of $4,276,630.00. Following the completion of the transaction, the executive vice president now directly owns 21,682 shares in the company, valued at $3,197,444.54. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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