Cullen Frost Bankers Inc. cut its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 71,573 shares of the company’s stock after selling 1,307 shares during the period. Cullen Frost Bankers Inc.’s holdings in Mondelez International were worth $3,257,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. ING Groep NV raised its position in shares of Mondelez International by 2,311.5% in the first quarter. ING Groep NV now owns 8,979,951 shares of the company’s stock valued at $360,276,000 after buying an additional 8,607,565 shares during the last quarter. Atlanta Capital Management Co. L L C acquired a new position in shares of Mondelez International during the first quarter valued at about $64,152,000. Renaissance Technologies LLC acquired a new position in shares of Mondelez International during the first quarter valued at about $60,104,000. BlackRock Group LTD raised its position in shares of Mondelez International by 8.6% in the first quarter. BlackRock Group LTD now owns 14,014,006 shares of the company’s stock valued at $562,243,000 after buying an additional 1,112,528 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Mondelez International by 19.4% in the first quarter. Canada Pension Plan Investment Board now owns 4,916,146 shares of the company’s stock valued at $197,236,000 after buying an additional 800,100 shares during the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.
Mondelez International Inc (NASDAQ:MDLZ) traded up 1.03% on Tuesday, reaching $43.16. The company had a trading volume of 8,302,178 shares. Mondelez International Inc has a one year low of $35.88 and a one year high of $47.42. The company’s 50 day moving average is $43.26 and its 200-day moving average is $43.43. The firm has a market capitalization of $67.14 billion, a price-to-earnings ratio of 9.15 and a beta of 0.97.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. Mondelez International had a return on equity of 10.15% and a net margin of 28.01%. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, equities research analysts expect that Mondelez International Inc will post $1.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.19 per share. This is a boost from Mondelez International’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, September 28th. Mondelez International’s dividend payout ratio (DPR) is 14.66%.
Several brokerages have recently issued reports on MDLZ. Susquehanna reiterated a “hold” rating on shares of Mondelez International in a research note on Sunday, July 17th. Morgan Stanley reiterated a “buy” rating on shares of Mondelez International in a research note on Wednesday, June 1st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $53.00 price target on shares of Mondelez International in a research note on Friday, June 3rd. Zacks Investment Research lowered Mondelez International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Deutsche Bank AG reduced their price objective on Mondelez International from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Mondelez International presently has an average rating of “Buy” and a consensus price target of $47.49.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers in approximately 165 countries around the world. The Company operates through five segments: Latin America; Asia Pacific; Eastern Europe, Middle East, and Africa (EEMEA); Europe, and North America.
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