Mondelez International Inc (MDLZ) Position Boosted by SevenBridge Financial Group LLC
SevenBridge Financial Group LLC raised its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 51.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,763 shares of the company’s stock after acquiring an additional 1,625 shares during the period. SevenBridge Financial Group LLC’s holdings in Mondelez International were worth $204,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Bank of Nova Scotia Trust Co. purchased a new position in Mondelez International during the third quarter worth about $113,000. Cerebellum GP LLC purchased a new position in Mondelez International during the fourth quarter worth about $127,000. Taylor Hoffman Wealth Management purchased a new position in Mondelez International during the fourth quarter worth about $144,000. Banco de Sabadell S.A purchased a new position in Mondelez International during the fourth quarter worth about $148,000. Finally, Delpha Capital Management LLC purchased a new position in Mondelez International during the fourth quarter worth about $152,000. Institutional investors and hedge funds own 75.84% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research cut Mondelez International from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. TheStreet upgraded Mondelez International from a “c+” rating to a “b” rating in a report on Thursday, December 21st. Barclays reiterated a “buy” rating and issued a $50.00 price objective on shares of Mondelez International in a report on Friday, February 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $52.00 price objective on shares of Mondelez International in a report on Thursday, February 1st. Finally, BidaskClub upgraded Mondelez International from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.44.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. The company had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the previous year, the company posted $0.47 EPS. Mondelez International’s revenue for the quarter was up 2.9% on a year-over-year basis. analysts expect that Mondelez International Inc will post 2.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, March 28th. Mondelez International’s dividend payout ratio (DPR) is presently 46.07%.
Mondelez International declared that its board has approved a share repurchase plan on Wednesday, January 31st that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Trian Fund Management, L.P. bought 1,028,600 shares of the stock in a transaction dated Friday, March 9th. The stock was bought at an average price of $44.27 per share, with a total value of $45,536,122.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Hubert Weber sold 10,931 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $43.79, for a total value of $478,668.49. Following the completion of the sale, the executive vice president now directly owns 160,865 shares of the company’s stock, valued at approximately $7,044,278.35. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
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; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
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