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MJN $89.98

MJN target price
89.98
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Mead Johnson Nutrition Company
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.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

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

Major Shareholders

Name Relationship Total Shares Holding stocks
LEEMPUTTE PETER G EVP and CFO 0.03%  (56875) BZH / GMCR / MJN /