Stonebridge Capital Management Inc. Buys Shares of 6,491 Mondelez International, Inc. (MDLZ)
Stonebridge Capital Management Inc. bought a new position in Mondelez International, Inc. (NASDAQ:MDLZ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,491 shares of the company’s stock, valued at approximately $281,000.
Several other hedge funds also recently bought and sold shares of MDLZ. Vanguard Group Inc. raised its holdings in Mondelez International by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 97,631,640 shares of the company’s stock valued at $4,205,971,000 after buying an additional 2,720,253 shares during the last quarter. Geode Capital Management LLC raised its holdings in Mondelez International by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 15,445,600 shares of the company’s stock valued at $664,480,000 after buying an additional 1,041,124 shares during the last quarter. Lindsell Train Ltd raised its holdings in Mondelez International by 23.3% in the 1st quarter. Lindsell Train Ltd now owns 14,507,710 shares of the company’s stock valued at $624,992,000 after buying an additional 2,740,400 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Mondelez International by 32.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 12,509,846 shares of the company’s stock valued at $538,924,000 after buying an additional 3,056,900 shares during the last quarter. Finally, Parnassus Investments CA raised its holdings in Mondelez International by 9.8% in the 1st quarter. Parnassus Investments CA now owns 11,466,220 shares of the company’s stock valued at $478,548,000 after buying an additional 1,020,219 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
In other Mondelez International news, EVP Maurizio Brusadelli sold 6,248 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total value of $273,412.48. Following the completion of the sale, the executive vice president now owns 61,651 shares in the company, valued at $2,697,847.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.60% of the company’s stock.
A number of research analysts recently issued reports on MDLZ shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $54.00 price objective on shares of Mondelez International in a report on Monday, May 22nd. Piper Jaffray Companies started coverage on shares of Mondelez International in a report on Wednesday, May 24th. They issued a “neutral” rating and a $48.00 price objective for the company. Morgan Stanley raised their price objective on shares of Mondelez International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 25th. Credit Suisse Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Mondelez International in a report on Tuesday, June 13th. Finally, BidaskClub lowered shares of Mondelez International from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.33.
Shares of Mondelez International, Inc. (NASDAQ MDLZ) opened at 40.98 on Wednesday. The firm has a market cap of $61.78 billion, a P/E ratio of 36.04 and a beta of 1.20. Mondelez International, Inc. has a 52-week low of $40.22 and a 52-week high of $47.23. The firm’s 50-day moving average is $42.82 and its 200-day moving average is $44.13.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.98 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. Analysts anticipate that Mondelez International, Inc. will post $2.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be given a $0.22 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.88 annualized dividend and a yield of 2.15%. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. Mondelez International’s payout ratio is presently 66.67%.
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.
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