Toronto Dominion Bank increased its position in shares of Mondelez International (NASDAQ:MDLZ) by 26.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 826,345 shares of the company’s stock after buying an additional 170,570 shares during the period. Toronto Dominion Bank’s holdings in Mondelez International were worth $34,475,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of MDLZ. Schwab Charles Investment Management Inc. increased its holdings in Mondelez International by 3.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,438,637 shares of the company’s stock worth $232,774,000 after buying an additional 192,719 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Mondelez International by 25.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,617 shares of the company’s stock worth $411,000 after buying an additional 1,931 shares during the last quarter. Cerebellum GP LLC acquired a new position in Mondelez International during the fourth quarter worth $127,000. Fisher Asset Management LLC increased its holdings in Mondelez International by 15.1% during the fourth quarter. Fisher Asset Management LLC now owns 11,208 shares of the company’s stock worth $480,000 after buying an additional 1,473 shares during the last quarter. Finally, Field & Main Bank acquired a new position in Mondelez International during the fourth quarter worth $449,000. Institutional investors and hedge funds own 75.97% of the company’s stock.
Mondelez International opened at $39.45 on Thursday, Marketbeat Ratings reports. Mondelez International has a one year low of $37.42 and a one year high of $47.23. The firm has a market capitalization of $58.16 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.35 and a beta of 0.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.50.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, May 1st. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Mondelez International had a net margin of 12.31% and a return on equity of 13.04%. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Mondelez International’s revenue was up 5.5% compared to the same quarter last year. analysts predict that Mondelez International will post 2.45 earnings per share for the current fiscal year.
Mondelez International declared that its board has approved a stock buyback plan on Wednesday, January 31st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be paid a $0.22 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. Mondelez International’s dividend payout ratio (DPR) is presently 41.12%.
In other Mondelez International news, Director Trian Fund Management, L.P. purchased 1,028,600 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average cost of $44.27 per share, for a total transaction of $45,536,122.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Hubert Weber sold 10,931 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now 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 2.00% of the company’s stock.
MDLZ has been the topic of a number of recent analyst reports. Susquehanna Bancshares restated a “hold” rating and set a $48.00 target price on shares of Mondelez International in a report on Tuesday, January 30th. Morgan Stanley boosted their target price on shares of Mondelez International from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Bank of America boosted their target price on shares of Mondelez International from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $52.00 price objective on shares of Mondelez International in a report on Thursday, February 1st. Finally, Societe Generale upgraded shares of Mondelez International from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $55.00 in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $49.53.
About Mondelez International
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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