Gateway Investment Advisers LLC decreased its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 867,573 shares of the company’s stock after selling 121,595 shares during the period. Gateway Investment Advisers LLC owned approximately 0.06% of Mondelez International worth $44,359,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDLZ. Norges Bank acquired a new position in Mondelez International during the 4th quarter worth approximately $811,074,000. Diamond Hill Capital Management Inc. acquired a new position in Mondelez International during the 1st quarter worth approximately $233,120,000. Capital International Investors increased its position in Mondelez International by 10.6% during the 1st quarter. Capital International Investors now owns 26,208,513 shares of the company’s stock worth $1,312,522,000 after purchasing an additional 2,503,118 shares during the period. Macquarie Group Ltd. increased its position in Mondelez International by 13.2% during the 4th quarter. Macquarie Group Ltd. now owns 17,883,349 shares of the company’s stock worth $985,015,000 after purchasing an additional 2,091,104 shares during the period. Finally, BlackRock Inc. increased its position in Mondelez International by 2.2% during the 1st quarter. BlackRock Inc. now owns 95,705,964 shares of the company’s stock worth $4,792,956,000 after purchasing an additional 2,041,195 shares during the period. Institutional investors own 75.27% of the company’s stock.
In other Mondelez International news, Director Charles E. Bunch purchased 2,000 shares of Mondelez International stock in a transaction on Friday, May 1st. The shares were bought at an average price of $50.32 per share, with a total value of $100,640.00. 1.30% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on MDLZ. Stifel Nicolaus upgraded Mondelez International from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Monday, March 30th. Credit Suisse Group restated a “buy” rating and issued a $62.00 price target on shares of Mondelez International in a report on Thursday, May 7th. Guggenheim lowered their price target on Mondelez International from $58.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Morgan Stanley upped their price target on Mondelez International from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, Berenberg Bank upgraded Mondelez International from a “hold” rating to a “buy” rating and upped their price target for the stock from $52.00 to $61.00 in a report on Monday, June 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $61.19.
MDLZ stock traded up $0.43 on Wednesday, reaching $53.28. The company had a trading volume of 953,548 shares, compared to its average volume of 7,982,838. Mondelez International Inc has a 1 year low of $41.19 and a 1 year high of $59.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.39 and a current ratio of 0.53. The company’s fifty day moving average is $51.54 and its 200 day moving average is $52.82. The company has a market cap of $75.73 billion, a P/E ratio of 20.89, a PEG ratio of 2.95 and a beta of 0.61.
Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, April 28th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Mondelez International had a return on equity of 13.73% and a net margin of 14.24%. The firm had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter in the prior year, the company earned $0.65 EPS. Mondelez International’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Mondelez International Inc will post 2.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Monday, June 29th. Mondelez International’s payout ratio is currently 46.15%.
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; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's primary snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; and Trident gums and Tang powdered beverages.
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