Halsey Associates Inc. CT increased its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 23.2% in the fourth quarter, HoldingsChannel reports. The firm owned 7,431 shares of the company’s stock after buying an additional 1,400 shares during the quarter. Halsey Associates Inc. CT’s holdings in Mondelez International were worth $318,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. increased its position in Mondelez International by 3.9% during the 4th quarter. Brookfield Asset Management Inc. now owns 235,250 shares of the company’s stock worth $10,069,000 after purchasing an additional 8,800 shares in the last quarter. Csenge Advisory Group acquired a new position in Mondelez International during the 4th quarter worth approximately $238,000. Lake Street Advisors Group LLC acquired a new position in Mondelez International during the 4th quarter worth approximately $530,000. DF Dent & Co. Inc. acquired a new position in Mondelez International during the 4th quarter worth approximately $529,000. Finally, MetLife Investment Advisors LLC acquired a new position in Mondelez International during the 4th quarter worth approximately $19,790,000. Institutional investors and hedge funds own 75.84% of the company’s stock.
MDLZ has been the subject of a number of research analyst reports. TheStreet upgraded shares of Mondelez International from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Societe Generale upgraded shares of Mondelez International from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $55.00 in a research report on Friday, February 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $52.00 price objective on shares of Mondelez International in a research report on Thursday, February 1st. Bank of America upped their price objective on shares of Mondelez International from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Zacks Investment Research upgraded shares of Mondelez International from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.69.
In other news, Director Trian Fund Management, L.P. acquired 1,028,600 shares of Mondelez International stock in a transaction dated Friday, March 9th. The shares were bought at an average cost of $44.27 per share, with a total value of $45,536,122.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Hubert Weber sold 10,931 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $43.79, for a total transaction of $478,668.49. Following the completion of the sale, the executive vice president now directly owns 160,865 shares in the company, valued at $7,044,278.35. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Shares of Mondelez International Inc (NASDAQ MDLZ) traded down $0.09 during midday trading on Tuesday, reaching $42.26. 847,133 shares of the company’s stock traded hands, compared to its average volume of 9,505,170. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.31 and a current ratio of 0.48. Mondelez International Inc has a 1 year low of $39.19 and a 1 year high of $47.23. The firm has a market cap of $64,237.70, a PE ratio of 22.25, a P/E/G ratio of 1.46 and a beta of 0.90.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Mondelez International had a net margin of 11.28% and a return on equity of 12.72%. The firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue was up 2.9% on a year-over-year basis. analysts expect that Mondelez International Inc will post 2.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, March 28th. Mondelez International’s dividend payout ratio is currently 46.07%.
Mondelez International declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 31st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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Mondelez International Company Profile
Mondelez International, Inc, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
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