Type
|
Division |
---|---|
Industry | Pediatric nutrition |
Founded | 1905 |
Headquarters | Chicago, Illinois Evansville, Indiana (Global Operations Center) |
Key people
|
Aditya Sehgal, EVP Infant and Child Nutrition |
Number of employees
|
7,500 (2017) |
Parent | Reckitt Benckiser |
Website | http://www.meadjohnson.com |
Mead Johnson Nutrition is a leading manufacturer of infant formula both domestically and globally with its flagship product Enfamil. The company dates back to a firm created by Edward Mead Johnson, one of the co-founders of Johnson & Johnson, who created his own business in 1895, which was renamed Mead Johnson & Company in 1905. The company was majority owned by Bristol-Myers Squibb after an acquisition in 1967, but was spun off in 2009 as an independent firm.
In the year end 31 December 2016, Mead Johnson reported net sales of $3,743 million. Fifty percent of those sales were generated in Asia, 17% in Latin America and 33% in North America/Europe. For the same time period, the company reported total assets of $4,088 million.
In February 2017, British consumer goods company Reckitt Benckiser (RB) bid $16.7 billion for the company.
On June 15, 2017 MJN announced that its merger with Reckitt Benckiser (RB) had been completed. As a result, MJN's common stock is no longer traded on the New York Stock Exchange, effective the announcement date.
Edward Mead Johnson had founded Johnson & Johnson in 1886 together with his brothers. In 1895, Johnson developed a side business called The American Ferment Company to create a digestive aid. In 1897, E. Mead Johnson left the family business to go out into business on his own in Jersey City, New Jersey, and in 1905, the company was re-established as Mead Johnson & Company. The firm's first major infant formula was developed in 1910, and Dextri-Maltose, a carbohydrate-based milk modifier was introduced in 1911, making it the first American product for infants to be clinically approved and recommended by doctors. The firm moved to Evansville, Indiana, in 1915, in the wake of World War I, as part of an effort to have easier access to the raw agricultural ingredients that were needed for its products, which required Johnson to build a series of new plants and factories to replace the ones he had left behind in New Jersey.
Edward Mead Johnson died in 1934, and Lambert Mead Johnson succeeded his father as president, and served in the position until 1955, making him the longest-serving president in company history. D. Mead Johnson was the third generation of the family to serve as chief executive of the firm. During his tenure, which lasted from 1955 until the firm's takeover by Bristol-Myers in 1968, the firm's annual sales tripled to $131 million, and grew to nearly 4,400 employees.
Bristol-Myers reached agreement in August 1967 for a deal under which Mead Johnson would be acquired, with shareholders receiving a mix of common and preferred stock in a deal valued at $240 million. Mead Johnson's net sales in 1966 were $131 million with earnings of $7.3 million.
Bristol-Myers announced in February 2009 that it was going to spin off Mead Johnson to focus on its primary pharmaceutics business, with an initial public offering estimated to bring in $562.5 million and would leave Bristol-Myers with 90% ownership of the firm. A plan offered in November 2009 would allow shareholders of Bristol-Myers to exchange one dollar of stock in that company for $1.11 worth of shares in Mead Johnson for the 133.5 million shares in the firm, which would value the company at $7.7 billion based on the stock's then current closing price. The stock swap was intended to provide a tax-free exchange. CEO James M. Cornelius of Bristol-Myers said that "With a successful execution of this split-off, we fully consider ourselves a BioPharma company".
In February 2017 it was announced that Reckitt Benckiser was in advanced negotiations to acquire Mead Johnson. On February 10, 2017, Reckitt Benckiser Group announced it had agreed to buy Mead Johnson Nutrition Co. for $16.6 billion.
RB's intention was to acquire Mead Johnson Nutrition for $90 per share in cash. In order to effect the transaction, RB incorporated a subsidiary in Delaware into which Mead Johnson Nutrition has merged, with Mead Johnson Nutrition being the surviving entity at completion.
Mead Johnson announced on June 12, 2017 that the final regulator approval to complete the acquisition had been received. On June 15, 2017 the merger was completed and Mead Johnson became the Infant Formula and Child Nutrition (IFCN) Division of RB.
2016-07-13 | Upgrade | Bank of America Corp. | Underperform to Neutral | $93.00 |
2016-06-30 | Reiterated Rating | Credit Suisse | Buy | $96.00 |
2016-06-30 | Reiterated Rating | Credit Suisse Group AG | Buy | $96.00 |
2016-06-16 | Reiterated Rating | Susquehanna | Hold | |
2016-04-28 | Reiterated Rating | Susquehanna | Hold | $82.00 |
2016-04-18 | Boost Price Target | Citigroup Inc. | Buy | $85.00 to $100.00 |
2016-04-01 | Reiterated Rating | Susquehanna | Hold | $77.00 |
2016-03-19 | Reiterated Rating | Susquehanna | Neutral to Hold | |
2016-03-16 | Reiterated Rating | Credit Agricole | Sell | |
2016-03-16 | Upgrade | Credit Suisse | Neutral to Outperform | $76.00 to $100.00 |
2016-03-16 | Reiterated Rating | Credit Agricole SA | Sell | |
2016-02-20 | Reiterated Rating | Deutsche Bank | Hold | $76.00 |
2016-02-20 | Reiterated Rating | Deutsche Bank AG | Hold | $76.00 |
2016-02-14 | Reiterated Rating | Susquehanna | Neutral to Hold | |
2016-02-01 | Boost Price Target | Nomura | Neutral | $85.00 to $88.00 |
2016-02-01 | Boost Price Target | Nomura Holdings Inc. | Neutral | $85.00 to $88.00 |
2016-01-31 | Reiterated Rating | William Blair | Outperform | |
2016-01-29 | Boost Price Target | JPMorgan Chase & Co. | Neutral | $75.00 to $76.00 |
2016-01-27 | Lower Price Target | JPMorgan Chase & Co. | $77.00 to $75.00 | |
2016-01-25 | Reiterated Rating | Susquehanna | Hold | $75.00 |
2016-01-21 | Reiterated Rating | Deutsche Bank | Hold | $79.00 to $76.00 |
2016-01-19 | Lower Price Target | Credit Suisse | Neutral | $86.00 to $76.00 |
2016-01-12 | Downgrade | Nomura | Buy to Neutral | $98.00 to $85.00 |
2016-01-11 | Downgrade | JPMorgan Chase & Co. | Overweight to Neutral | $85.00 to $77.00 |
2016-01-08 | Downgrade | Credit Agricole | Outperform to Underperform | |
2016-01-07 | Downgrade | CLSA | Outperform to Underperform | |
2016-01-07 | Downgrade | Credit Agricole | Outperform to Underperform | |
2015-12-14 | Downgrade | Goldman Sachs | Buy to Neutral | $86.00 |
2015-12-14 | Downgrade | Goldman Sachs Group Inc. | Buy to Neutral | $86.00 |
2015-10-26 | Reiterated Rating | Susquehanna | Neutral | $75.00 |
2015-10-25 | Reiterated Rating | Nomura | Buy | $93.00 |
2015-10-23 | Reiterated Rating | Deutsche Bank | Hold | |
2015-10-23 | Downgrade | Credit Suisse | Outperform to Neutral | $79.25 to $86.00 |
2015-10-08 | Reiterated Rating | Credit Suisse | Outperform | $88.00 to $86.00 |
2015-10-08 | Downgrade | Bank of America | Neutral to Underperform | $80.00 to $78.00 |
2015-10-08 | Downgrade | Bank of America Corp. | Neutral to Underperform | $80.00 to $78.00 |
2015-10-07 | Upgrade | Nomura | Neutral to Buy | $102.00 to $93.00 |
2015-09-16 | Lower Price Target | JPMorgan Chase & Co. | Overweight | $97.00 to $86.00 |
2015-07-16 | Reiterated Rating | Nomura | Neutral | $113.00 |
2015-07-15 | Lower Price Target | Citigroup Inc. | Buy | $117.00 to $110.00 |
2015-07-15 | Reiterated Rating | BMO Capital Markets | Hold | $105.00 to $100.00 |
2015-07-15 | Reiterated Rating | Deutsche Bank | Hold | $98.00 to $89.00 |
2015-06-25 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $111.00 to $99.00 |
2015-06-23 | Lower Price Target | Credit Suisse | $110.00 to $102.00 | |
2015-06-15 | Lower Price Target | Deutsche Bank | Hold | $103.00 to $98.00 |
2015-06-12 | Downgrade | Nomura | Buy to Neutral | $121.00 to $90.92 |
2015-06-11 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $111.00 to $99.00 |
2015-06-10 | Lower Price Target | Credit Suisse | Outperform | $112.00 to $110.00 |
2015-04-24 | Lower Price Target | Nomura | Buy | $122.00 to $121.00 |
2015-02-23 | Set Price Target | Credit Suisse | Buy | $110.00 to $112.00 |
2015-01-30 | Lower Price Target | Citigroup Inc. | Buy | $119.00 to $117.00 |
2015-01-27 | Set Price Target | Morgan Stanley | Hold | $98.00 to $104.00 |
2015-01-09 | Initiated Coverage | Nomura | Buy | $123.00 |
2014-10-27 | Downgrade | Morgan Stanley | Equal Weight | $98.00 |
2014-10-24 | Reiterated Rating | Credit Suisse | Outperform | $105.00 to $110.00 |
2014-10-20 | Downgrade | Deutsche Bank | Buy to Hold | $103.00 |
2014-09-12 | Boost Price Target | BMO Capital Markets | $92.00 to $100.00 | |
2014-09-08 | Boost Price Target | JPMorgan Chase & Co. | $99.00 to $107.00 | |
2014-07-23 | Boost Price Target | BMO Capital Markets | Market Perform | $82.00 to $92.00 |
2014-07-23 | Reiterated Rating | Citigroup Inc. | Buy | $105.00 to $109.00 |
2014-07-23 | Reiterated Rating | Credit Suisse | Outperform | $97.00 to $105.00 |
2014-07-23 | Reiterated Rating | Deutsche Bank | Buy | $99.00 to $103.00 |
2014-07-23 | Upgrade | Credit Agricole | Buy to Outperform | |
2014-07-15 | Boost Price Target | JPMorgan Chase & Co. | $93.00 to $97.00 | |
2014-07-15 | Upgrade | Goldman Sachs | Neutral to Buy | $91.00 to $107.00 |
2014-06-02 | Reiterated Rating | Deutsche Bank | Buy | $97.00 to $99.00 |
2014-04-28 | Boost Price Target | Societe Generale | $94.00 to $100.00 | |
2014-04-22 | Reiterated Rating | Deutsche Bank | Buy | $93.00 to $92.00 |
2014-03-10 | Boost Price Target | JPMorgan Chase & Co. | Overweight | $89.00 to $92.00 |
2014-03-07 | Boost Price Target | Citigroup Inc. | Buy | $95.00 to $104.00 |
2014-02-21 | Reiterated Rating | Deutsche Bank | Buy | $92.00 |
2014-02-19 | Boost Price Target | Morgan Stanley | Positive to Equal Weight | $85.00 |
2014-02-10 | Upgrade | Wells Fargo & Co. | Market Perform to Outperform | |
2014-02-10 | Upgrade | Wells Fargo | Market Perform to Outperform | |
2014-01-31 | Initiated Coverage | Societe Generale | Buy | |
2014-01-30 | Initiated Coverage | Societe Generale | Buy | |
2014-01-28 | Reiterated Rating | Deutsche Bank | Buy | $92.00 to $94.00 |
2014-01-28 | Reiterated Rating | Citigroup Inc. | Focus List | |
2013-12-09 | Reiterated Rating | Deutsche Bank | Positive | |
2013-11-19 | Upgrade | Oppenheimer | Market Perform to Outperform | $100.00 |
2013-11-15 | Reiterated Rating | William Blair | Outperform | |
2013-11-08 | Boost Price Target | JPMorgan Chase & Co. | $87.00 to $89.00 | |
2013-10-25 | Lower Price Target | JPMorgan Chase & Co. | Overweight | $88.00 to $87.00 |
2013-10-21 | Upgrade | Citigroup Inc. | Neutral to Buy | $77.00 to $95.00 |
2013-10-16 | Reiterated Rating | Deutsche Bank | Buy | $86.00 |
2013-10-03 | Reiterated Rating | Credit Suisse | Outperform | |
2013-09-17 | Upgrade | JPMorgan Chase & Co. | Neutral to Overweight | $78.00 to $88.00 |
2011-08-09 | Upgrade | Deutsche Bank | Hold to Buy | $73 to $73 |
2011-06-13 | Initiated | William Blair | Outperform | |
2009-12-28 | Reiterated | Citigroup | Buy | $44 to $50 |
2009-12-14 | Upgrade | Credit Suisse | Neutral to Outperform | $45 to $50 |
2009-03-23 | Initiated | RBC Capital Mkts | Outperform | |
2009-03-23 | Initiated | Credit Suisse | Neutral | |
2009-03-23 | Initiated | Citigroup | Buy |
2016-07-13 | Upgrade | Bank of America Corp. | Underperform to Neutral | $93.00 |
2016-06-30 | Reiterated Rating | Credit Suisse | Buy | $96.00 |
2016-06-30 | Reiterated Rating | Credit Suisse Group AG | Buy | $96.00 |
2016-06-16 | Reiterated Rating | Susquehanna | Hold | |
2016-04-28 | Reiterated Rating | Susquehanna | Hold | $82.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In MJN 36 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
BlackRock Institutional Trust Company, N.A. | 5.20M |
BlackRock Fund Advisors | 3.32M |
BLACKROCK ADVISORS LLC | 1.95M |
BlackRock Group LTD | 1.80M |
Perkins Investment Management, LLC | 1.01M |
MANAGED ACCOUNT ADVISORS LLC | 0.76M |
BlackRock Investment Management, LLC | 0.61M |
BAIRD ROBERT W & CO INC /WI/ | 0.55M |
BlackRock Japan Co. Ltd | 0.25M |
Placemark Investments, Inc. | 98766 |
Lombard Odier & Cie (Bahamas) Ltd | 61000 |
V2 Capital, LLC | 53870 |
Loeb Offshore Management LP | 35300 |
DELTA LLOYD NV | 31756 |
RUSSELL FRANK CO/ | 26918 |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
LEEMPUTTE PETER G EVP and CFO | 0.03% (56875) | BZH / GMCR / MJN / |