Soros Fund Management LLC Boosts Stake in Mondelez International, Inc. (NASDAQ:MDLZ)
Soros Fund Management LLC boosted its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 169.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,238,031 shares of the company’s stock after buying an additional 778,000 shares during the period. Mondelez International accounts for approximately 1.1% of Soros Fund Management LLC’s holdings, making the stock its 19th largest position. Soros Fund Management LLC’s holdings in Mondelez International were worth $53,334,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Mondelez International by 95.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 9,871,082 shares of the company’s stock worth $425,709,000 after buying an additional 4,821,400 shares in the last quarter. Canada Pension Plan Investment Board increased its stake 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 worth $538,924,000 after buying an additional 3,056,900 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Mondelez International by 186.2% in the first quarter. Renaissance Technologies LLC now owns 4,573,598 shares of the company’s stock worth $197,031,000 after buying an additional 2,975,800 shares in the last quarter. Lindsell Train Ltd increased its stake 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 worth $624,992,000 after buying an additional 2,740,400 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Mondelez International by 2.9% in the first quarter. Vanguard Group Inc. now owns 97,631,640 shares of the company’s stock worth $4,205,971,000 after buying an additional 2,720,253 shares in the last quarter. Institutional investors own 76.55% of the company’s stock.
Mondelez International, Inc. (MDLZ) traded up 0.74% during midday trading on Friday, reaching $43.59. The company had a trading volume of 4,874,976 shares. The stock has a market cap of $65.72 billion, a P/E ratio of 38.34 and a beta of 1.19. Mondelez International, Inc. has a 12 month low of $40.50 and a 12 month high of $47.23. The firm has a 50-day moving average of $43.70 and a 200-day moving average of $44.47.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.98 billion. During the same period in the prior year, the company earned $0.44 EPS. Mondelez International’s revenue was down 5.0% compared to the same quarter last year. On average, equities analysts expect that Mondelez International, Inc. will post $2.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Mondelez International’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, September 28th. Mondelez International’s dividend payout ratio is presently 66.67%.
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MDLZ has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) set a $53.00 price objective on Mondelez International and gave the stock a “conviction-buy” rating in a research report on Wednesday, May 3rd. Deutsche Bank AG upgraded Mondelez International from a “hold” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $51.00 in a research report on Wednesday, May 3rd. TheStreet upgraded Mondelez International from a “c” rating to a “b-” rating in a research report on Wednesday, April 26th. Credit Suisse Group restated a “buy” rating and set a $50.00 target price on shares of Mondelez International in a research report on Tuesday, June 13th. Finally, Morgan Stanley raised their target price on Mondelez International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 25th. 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 company’s stock. Mondelez International currently has a consensus rating of “Buy” and an average price target of $50.33.
In other news, EVP Maurizio Brusadelli sold 6,248 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total value of $273,412.48. Following the completion of the transaction, the executive vice president now directly owns 61,651 shares in the company, valued at approximately $2,697,847.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
About Mondelez International
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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