Harvey Investment Co. LLC reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,692 shares of the company’s stock after selling 1,000 shares during the period. Harvey Investment Co. LLC’s holdings in Mondelez International were worth $2,362,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in Mondelez International during the first quarter worth approximately $11,268,000. United Bank increased its position in Mondelez International by 6.6% in the first quarter. United Bank now owns 20,759 shares of the company’s stock worth $894,000 after buying an additional 1,282 shares during the last quarter. Keybank National Association OH increased its position in Mondelez International by 1.9% in the first quarter. Keybank National Association OH now owns 1,000,853 shares of the company’s stock worth $43,117,000 after buying an additional 18,345 shares during the last quarter. GFS Advisors LLC acquired a new position in Mondelez International during the first quarter worth approximately $450,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in Mondelez International by 6.6% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 51,610 shares of the company’s stock worth $2,223,000 after buying an additional 3,207 shares during the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.
Mondelez International, Inc. (MDLZ) traded down 1.08% during mid-day trading on Friday, reaching $42.94. The company’s stock had a trading volume of 6,760,998 shares. The firm has a 50-day moving average of $43.61 and a 200-day moving average of $44.43. Mondelez International, Inc. has a 52 week low of $40.50 and a 52 week high of $47.23. The stock has a market capitalization of $64.74 billion, a price-to-earnings ratio of 37.77 and a beta of 1.19.
Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Wednesday, August 2nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.98 billion. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. The business’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, equities research analysts expect that Mondelez International, Inc. will post $2.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, September 28th. This is a positive change from Mondelez International’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. Mondelez International’s dividend payout ratio is 66.67%.
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MDLZ has been the topic of a number of recent analyst reports. Deutsche Bank AG upgraded Mondelez International from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $51.00 in a report on Wednesday, May 3rd. TheStreet upgraded Mondelez International from a “c” rating to a “b-” rating in a research note on Wednesday, April 26th. Credit Suisse Group restated a “buy” rating and set a $50.00 price target on shares of Mondelez International in a research note on Wednesday, May 3rd. J P Morgan Chase & Co restated an “overweight” rating and set a $49.00 price target (down previously from $50.00) on shares of Mondelez International in a research note on Wednesday, June 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $53.00 price target (down previously from $54.00) on shares of Mondelez International in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Mondelez International currently has a consensus rating of “Buy” and an average target price of $50.33.
In other news, EVP Maurizio Brusadelli sold 6,248 shares of the company’s stock in a transaction that occurred on 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 directly owns 61,651 shares of the company’s stock, valued at $2,697,847.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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