Steinberg Global Asset Management raised its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,997 shares of the company’s stock after buying an additional 2,925 shares during the period. Steinberg Global Asset Management’s holdings in Mondelez International were worth $1,163,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MDLZ. Lindsell Train Ltd raised its position in shares of 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 shares of 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. Parnassus Investments CA raised its position in shares of 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. UBS Asset Management Americas Inc. raised its position in shares of Mondelez International by 7.7% in the first quarter. UBS Asset Management Americas Inc. now owns 10,390,601 shares of the company’s stock valued at $447,627,000 after buying an additional 743,140 shares during the period. Finally, Swiss National Bank raised its position in shares of Mondelez International by 25.8% in the first quarter. Swiss National Bank now owns 5,591,189 shares of the company’s stock valued at $240,868,000 after buying an additional 1,146,100 shares during the period. 76.54% of the stock is currently owned by institutional investors.
Shares of Mondelez International, Inc. (MDLZ) opened at 42.94 on Friday. Mondelez International, Inc. has a one year low of $40.50 and a one year high of $47.23. The firm has a market capitalization of $64.74 billion, a P/E ratio of 37.77 and a beta of 1.19. The firm’s 50-day moving average is $43.61 and its 200 day moving average is $44.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from Mondelez International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 28th. Mondelez International’s dividend payout ratio is presently 66.67%.
A number of brokerages recently weighed in on MDLZ. UBS AG reiterated a “buy” rating and issued a $51.00 price target on shares of Mondelez International in a research report on Wednesday, August 9th. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Mondelez International in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $53.00 price target (down from $54.00) on shares of Mondelez International in a research report on Monday, July 31st. Piper Jaffray Companies upgraded shares of Mondelez International from a “neutral” rating to an “overweight” rating and increased their price target for the company from $48.00 to $49.00 in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Mondelez International from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $50.33.
In other Mondelez International news, EVP Maurizio Brusadelli sold 6,248 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total transaction of $273,412.48. Following the transaction, the executive vice president now directly owns 61,651 shares in the company, valued at approximately $2,697,847.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by corporate insiders.
Mondelez International Company Profile
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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