Diligent Investors LLC cut its stake in Mondelez International Inc. (NASDAQ:MDLZ) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 40,388 shares of the company’s stock after selling 548 shares during the period. Mondelez International comprises about 1.7% of Diligent Investors LLC’s holdings, making the stock its 11th largest position. Diligent Investors LLC’s holdings in Mondelez International were worth $1,838,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MDLZ. Ferguson Wellman Capital Management Inc. raised its stake in shares of Mondelez International by 6,669.6% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 508,399 shares of the company’s stock valued at $23,137,000 after buying an additional 500,889 shares in the last quarter. Natixis raised its position in Mondelez International by 42.8% in the first quarter. Natixis now owns 1,405,515 shares of the company’s stock valued at $56,390,000 after buying an additional 420,987 shares during the period. Stoneridge Investment Partners LLC raised its position in Mondelez International by 44.5% in the second quarter. Stoneridge Investment Partners LLC now owns 269,963 shares of the company’s stock valued at $12,286,000 after buying an additional 83,154 shares during the period. Clarkston Capital Partners LLC raised its position in Mondelez International by 7.4% in the second quarter. Clarkston Capital Partners LLC now owns 415,280 shares of the company’s stock valued at $18,899,000 after buying an additional 28,444 shares during the period. Finally, AMP Capital Investors Ltd raised its position in Mondelez International by 15.0% in the first quarter. AMP Capital Investors Ltd now owns 879,064 shares of the company’s stock valued at $35,564,000 after buying an additional 114,787 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.
Mondelez International Inc. (NASDAQ:MDLZ) traded down 1.60% during mid-day trading on Tuesday, hitting $43.08. The stock had a trading volume of 3,854,279 shares. The company has a market cap of $67.01 billion, a P/E ratio of 9.13 and a beta of 1.02. Mondelez International Inc. has a 1-year low of $35.88 and a 1-year high of $47.42. The company has a 50-day moving average price of $43.29 and a 200 day moving average price of $43.49.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. The company earned $6.30 billion during the quarter, compared to analyst estimates of $6.34 billion. Mondelez International had a net margin of 28.01% and a return on equity of 10.15%. The company’s revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. Equities research analysts forecast that Mondelez International Inc. will post $1.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.19 per share. This is a positive change from Mondelez International’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, September 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.74%. Mondelez International’s dividend payout ratio (DPR) is presently 16.38%.
Several research firms have recently commented on MDLZ. Susquehanna raised Mondelez International from a “neutral” rating to a “positive” rating and upped their target price for the company from $46.00 to $60.00 in a report on Monday, July 25th. RBC Capital Markets reaffirmed an “outperform” rating and set a $54.00 target price (up from $52.00) on shares of Mondelez International in a report on Thursday, July 28th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $51.00 target price on shares of Mondelez International in a report on Friday, September 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Mondelez International in a report on Friday, July 15th. Finally, Morgan Stanley upped their target price on Mondelez International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average 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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