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NEW YORK ( TheStreet) -- Mead Johnson Nutrition Company (NYSE: MJN) hit a new 52-week high Wednesday as it is currently trading at $80.74, above its previous 52-week high of $80.51 with 51,178 shares traded as of 10 a.m. ET. Average volume has been 2.2 million shares over the past 30 days. Mead Johnson Nutrition has a market cap of $14.4 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 16.4% year to date as of the close of trading on Tuesday. Mead Johnson Nutrition Company manufactures, distributes, and sells infant formulas, children's nutritional products, and other nutritional products in Asia, Europe, Latin America, and North America. The company has a P/E ratio of 32.4, above the average food & beverage industry P/E ratio of 28 and above the S&P 500 P/E ratio of 17.7.