Mead Johnson looks sharp in IPO

Mead Johnson shares traded up today in its inital day on the open exchange.
Shares sit at around $27.
The company was spun off of Bristol Myers Squibb. They gained $720 million by seeling about 15% of the company. They will retain at least 80% of the company for the near future.

A dividend plan has already been announced for .30 a quarter providing $1.20 a year.

The company makes Enfamil, a leader in baby formula. Baby formula seems to be pretty recession proof as babies kept being born and most mothers don't decide on breast feeding or bottle feeding based on cost but personal choices.

I plan on buying shares sometime next week at anything under $30.

Check back for an update next week as this one is going to move next week.