NuWave Investment Management LLC Invests $840,000 in Mondelez International Inc (MDLZ)
NuWave Investment Management LLC bought a new stake in shares of Mondelez International Inc (NASDAQ:MDLZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,629 shares of the company’s stock, valued at approximately $840,000. Mondelez International accounts for about 1.0% of NuWave Investment Management LLC’s investment portfolio, making the stock its 25th biggest position.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Wealthstreet Investment Advisors LLC purchased a new stake in shares of Mondelez International during the fourth quarter valued at $2,190,000. Sigma Planning Corp boosted its stake in shares of Mondelez International by 31.9% during the fourth quarter. Sigma Planning Corp now owns 19,818 shares of the company’s stock valued at $848,000 after purchasing an additional 4,790 shares during the period. Grisanti Capital Management LLC purchased a new stake in shares of Mondelez International during the fourth quarter valued at $8,333,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Mondelez International by 0.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 170,954 shares of the company’s stock valued at $7,315,000 after purchasing an additional 1,274 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Mondelez International by 0.8% during the fourth quarter. Whittier Trust Co. now owns 330,140 shares of the company’s stock valued at $14,126,000 after purchasing an additional 2,475 shares during the period. 76.07% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Mondelez International from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Bank of America upped their price objective on shares of Mondelez International from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Societe Generale raised shares of Mondelez International from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $55.00 in a research note on Friday, February 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Mondelez International in a research note on Thursday, February 1st. Finally, Barclays reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Mondelez International in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.69.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.98 billion. Mondelez International had a net margin of 11.28% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. equities research analysts predict that Mondelez International Inc will post 2.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, March 28th. Mondelez International’s payout ratio is 46.07%.
Mondelez International announced that its board has approved a stock buyback plan on Wednesday, January 31st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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