Mondelez International Inc (MDLZ) Shares Sold by CIBC Asset Management Inc
CIBC Asset Management Inc lowered its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 644,117 shares of the company’s stock after selling 52,376 shares during the period. CIBC Asset Management Inc’s holdings in Mondelez International were worth $32,154,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in MDLZ. Teacher Retirement System of Texas lifted its holdings in shares of Mondelez International by 1,214.9% in the first quarter. Teacher Retirement System of Texas now owns 507,298 shares of the company’s stock valued at $25,324,000 after purchasing an additional 468,717 shares in the last quarter. Outlook Wealth Advisors LLC lifted its holdings in shares of Mondelez International by 453.5% in the first quarter. Outlook Wealth Advisors LLC now owns 6,565 shares of the company’s stock valued at $328,000 after purchasing an additional 5,379 shares in the last quarter. SlateStone Wealth LLC purchased a new stake in shares of Mondelez International in the first quarter valued at about $351,000. Harvest Group Wealth Management LLC purchased a new stake in shares of Mondelez International in the first quarter valued at about $183,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of Mondelez International by 3.4% in the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 119,548 shares of the company’s stock valued at $6,079,000 after purchasing an additional 3,963 shares in the last quarter. 76.64% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Alejandro Lorenzo sold 26,347 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $46.94, for a total transaction of $1,236,728.18. Following the completion of the transaction, the executive vice president now owns 59,320 shares of the company’s stock, valued at $2,784,480.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerhard W. Pleuhs sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $51.57, for a total transaction of $2,062,800.00. Following the transaction, the executive vice president now directly owns 110,308 shares of the company’s stock, valued at approximately $5,688,583.56. The disclosure for this sale can be found here. In the last three months, insiders sold 71,842 shares of company stock valued at $3,559,277. Company insiders own 1.50% of the company’s stock.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.55 billion. Mondelez International had a net margin of 12.66% and a return on equity of 14.17%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. Research analysts anticipate that Mondelez International Inc will post 2.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, June 27th. Mondelez International’s dividend payout ratio is presently 42.80%.
Several brokerages have issued reports on MDLZ. Zacks Investment Research downgraded shares of Mondelez International from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. UBS Group upped their price target on shares of Mondelez International to $56.00 and gave the company a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Credit Suisse Group boosted their price objective on shares of Mondelez International from $50.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. BidaskClub raised shares of Mondelez International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 16th. Finally, Piper Jaffray Companies set a $48.00 price objective on shares of Mondelez International and gave the company a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $49.67.
About Mondelez International
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; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's primary snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; and Trident gums and Tang powdered beverages.
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