State Street Corp lowered its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 1.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 65,516,440 shares of the company’s stock after selling 1,246,826 shares during the period. State Street Corp owned 4.32% of Mondelez International worth $2,823,022,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Mondelez International by 2.9% in the first 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 period. Geode Capital Management LLC raised its position in Mondelez International by 7.2% in the first 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 period. Lindsell Train Ltd raised its position in Mondelez International by 23.3% in the first 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 period. Canada Pension Plan Investment Board raised its position in Mondelez International by 32.3% in the first 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 period. Finally, Parnassus Investments CA raised its position in Mondelez International by 9.8% in the first 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 period. 76.55% of the stock is owned by hedge funds and other institutional investors.
Mondelez International, Inc. (NASDAQ MDLZ) traded up 0.49% during trading on Friday, hitting $43.48. The stock had a trading volume of 1,284,264 shares. Mondelez International, Inc. has a 12-month low of $40.50 and a 12-month high of $47.23. The stock has a 50 day moving average price of $43.73 and a 200 day moving average price of $44.48. The company has a market capitalization of $65.55 billion, a price-to-earnings ratio of 38.24 and a beta of 1.19.
Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Mondelez International had a net margin of 6.92% and a return on equity of 11.96%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.98 billion. During the same period last year, the business posted $0.44 EPS. Mondelez International’s revenue was down 5.0% on a year-over-year basis. Equities research analysts forecast that Mondelez International, Inc. will post $2.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be paid a $0.22 dividend. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, September 28th. Mondelez International’s dividend payout ratio (DPR) is 66.67%.
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Several equities analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) set a $53.00 target price on Mondelez International and gave the company a “conviction-buy” rating in a report on Wednesday, May 3rd. Piper Jaffray Companies upgraded Mondelez International from a “neutral” rating to an “overweight” rating and raised their target price for the company from $48.00 to $49.00 in a report on Tuesday, July 25th. Credit Suisse Group restated a “buy” rating and set a $50.00 target price on shares of Mondelez International in a report on Wednesday, May 3rd. UBS AG restated a “buy” rating and set a $51.00 target price on shares of Mondelez International in a report on Thursday, July 6th. Finally, BidaskClub lowered Mondelez International from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Mondelez International has a consensus rating of “Buy” and an average price target of $50.33.
In related news, EVP Maurizio Brusadelli sold 6,248 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were 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 directly owns 61,651 shares in the company, valued at approximately $2,697,847.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.60% of the company’s stock.
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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