Covington Capital Management increased its position in shares of Mondelez International Inc (NASDAQ:MDLZ) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 262,108 shares of the company’s stock after buying an additional 10,637 shares during the quarter. Covington Capital Management’s holdings in Mondelez International were worth $11,218,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Mondelez International by 3,206.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 44,532 shares of the company’s stock worth $1,906,000 after buying an additional 43,185 shares during the last quarter. Sand Hill Global Advisors LLC purchased a new position in Mondelez International during the 3rd quarter worth approximately $4,113,000. Janus Henderson Group PLC grew its stake in Mondelez International by 30.8% during the 2nd quarter. Janus Henderson Group PLC now owns 263,822 shares of the company’s stock worth $11,395,000 after buying an additional 62,189 shares during the last quarter. Keybank National Association OH grew its stake in Mondelez International by 3.4% during the 3rd quarter. Keybank National Association OH now owns 1,040,550 shares of the company’s stock worth $42,309,000 after buying an additional 34,038 shares during the last quarter. Finally, Swiss National Bank grew its stake in Mondelez International by 0.4% during the 3rd quarter. Swiss National Bank now owns 5,598,377 shares of the company’s stock worth $227,630,000 after buying an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.
A number of research analysts recently issued reports on the company. TheStreet upgraded Mondelez International from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Zacks Investment Research downgraded Mondelez International from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Piper Jaffray Companies reiterated a “buy” rating and issued a $52.00 target price on shares of Mondelez International in a research note on Thursday, February 1st. Susquehanna Bancshares reiterated a “hold” rating and issued a $48.00 target price on shares of Mondelez International in a research note on Tuesday, January 30th. Finally, Morgan Stanley lifted their target price on Mondelez International from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $50.69.
In other Mondelez International news, Director Trian Fund Management, L.P. purchased 1,028,600 shares of Mondelez International stock in a transaction dated Friday, March 9th. The stock was acquired at an average cost of $44.27 per share, with a total value of $45,536,122.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles E. Bunch purchased 2,000 shares of Mondelez International stock in a transaction dated Friday, February 16th. The stock was acquired at an average cost of $43.90 per share, with a total value of $87,800.00. The disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.
Mondelez International Inc (MDLZ) traded up $0.17 on Wednesday, hitting $44.21. The stock had a trading volume of 382,663 shares, compared to its average volume of 9,418,313. The company has a quick ratio of 0.31, a current ratio of 0.48 and a debt-to-equity ratio of 0.50. The firm has a market cap of $66,022.49, a PE ratio of 23.06, a P/E/G ratio of 1.50 and a beta of 0.90. Mondelez International Inc has a 1-year low of $39.19 and a 1-year high of $47.23.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. sell-side analysts expect that Mondelez International Inc will post 2.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.99%. Mondelez International’s dividend payout ratio is currently 46.07%.
Mondelez International announced that its board has approved a stock repurchase plan on Wednesday, January 31st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/14/covington-capital-management-grows-position-in-mondelez-international-inc-mdlz.html.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
Want to see what other hedge funds are holding MDLZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mondelez International Inc (NASDAQ:MDLZ).
Receive News & Ratings for Mondelez International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mondelez International and related companies with MarketBeat.com's FREE daily email newsletter.