Allen Investment Management LLC Sells 19,993 Shares of Mondelez International, Inc. (MDLZ)
Allen Investment Management LLC lowered its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 52.4% during the first quarter, Holdings Channel reports. The institutional investor owned 18,137 shares of the company’s stock after selling 19,993 shares during the period. Allen Investment Management LLC’s holdings in Mondelez International were worth $781,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in MDLZ. Adirondack Trust Co. raised its position in Mondelez International by 2.0% in the first quarter. Adirondack Trust Co. now owns 2,330 shares of the company’s stock valued at $100,000 after buying an additional 45 shares in the last quarter. Assetmark Inc. raised its position in Mondelez International by 13.5% in the first quarter. Assetmark Inc. now owns 3,367 shares of the company’s stock valued at $145,000 after buying an additional 401 shares in the last quarter. Financial Architects Inc raised its position in Mondelez International by 2.6% in the first quarter. Financial Architects Inc now owns 3,752 shares of the company’s stock valued at $162,000 after buying an additional 95 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Mondelez International by 0.6% in the first quarter. Parkside Financial Bank & Trust now owns 3,765 shares of the company’s stock valued at $162,000 after buying an additional 24 shares in the last quarter. Finally, Exane Derivatives raised its position in Mondelez International by 1,509.1% in the first quarter. Exane Derivatives now owns 3,894 shares of the company’s stock valued at $168,000 after buying an additional 3,652 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors.
Mondelez International, Inc. (MDLZ) traded down 0.265% during midday trading on Thursday, hitting $43.355. 764,973 shares of the stock traded hands. The company has a market cap of $65.36 billion, a price-to-earnings ratio of 38.131 and a beta of 1.19. The firm’s 50-day moving average is $43.78 and its 200-day moving average is $44.49. Mondelez International, Inc. has a 52-week low of $40.50 and a 52-week high of $47.23. Mondelez International also was the recipient of unusually large options trading activity on Monday. Traders bought 9,831 put options on the company. This represents an increase of 186% compared to the average volume of 3,438 put options.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.98 billion. Mondelez International had a net margin of 6.92% and a return on equity of 11.96%. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. Analysts predict that Mondelez International, Inc. will post $2.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Mondelez International’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.02%. Mondelez International’s dividend payout ratio is presently 66.67%.
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Several equities analysts recently commented on the stock. Goldman Sachs Group, Inc. (The) set a $53.00 target price on shares of Mondelez International and gave the company a “conviction-buy” rating in a report on Wednesday, May 3rd. Piper Jaffray Companies raised shares of Mondelez International from a “neutral” rating to an “overweight” rating and increased their target price for the company from $48.00 to $49.00 in a report on Tuesday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Mondelez International in a report on Wednesday, May 3rd. UBS AG reaffirmed 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 shares of Mondelez International from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mondelez International currently has a consensus rating of “Buy” and an average price target of $50.33.
In other news, EVP Robin S. Hargrove sold 6,000 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $44.87, for a total value of $269,220.00. Following the transaction, the executive vice president now directly owns 14,663 shares in the company, valued at $657,928.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maurizio Brusadelli sold 6,248 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total transaction of $273,412.48. Following the completion of the transaction, the executive vice president now owns 61,651 shares in the company, valued at $2,697,847.76. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
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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