Bridges Investment Management Inc. Acquires 200 Shares of Mondelez International, Inc. (MDLZ)
Bridges Investment Management Inc. boosted its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 9,925 shares of the company’s stock after buying an additional 200 shares during the period. Bridges Investment Management Inc.’s holdings in Mondelez International were worth $429,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDLZ. Palisade Capital Management LLC NJ raised its position in Mondelez International by 9.7% in the first quarter. Palisade Capital Management LLC NJ now owns 189,068 shares of the company’s stock worth $8,145,000 after buying an additional 16,653 shares in the last quarter. Benson Investment Management Company Inc. raised its position in Mondelez International by 3.5% in the first quarter. Benson Investment Management Company Inc. now owns 49,695 shares of the company’s stock worth $2,141,000 after buying an additional 1,700 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in Mondelez International by 7.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 134,390 shares of the company’s stock worth $5,790,000 after buying an additional 9,144 shares in the last quarter. Regent Investment Management LLC raised its position in Mondelez International by 45.7% in the first quarter. Regent Investment Management LLC now owns 35,028 shares of the company’s stock worth $1,509,000 after buying an additional 10,994 shares in the last quarter. Finally, CGOV Asset Management raised its position in Mondelez International by 9.4% in the first quarter. CGOV Asset Management now owns 15,100 shares of the company’s stock worth $867,000 after buying an additional 1,300 shares in the last quarter. 76.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Mondelez International, Inc. (NASDAQ MDLZ) traded up 0.74% on Friday, hitting $43.59. 4,874,976 shares of the stock were exchanged. The company has a 50-day moving average price of $43.70 and a 200-day moving average price of $44.47. Mondelez International, Inc. has a one year low of $40.50 and a one year high of $47.23. The firm has a market capitalization of $65.72 billion, a PE ratio of 38.34 and a beta of 1.19.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Mondelez International had a net margin of 6.92% and a return on equity of 11.96%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.98 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. Equities research analysts expect that Mondelez International, Inc. will post $2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.22 per share. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, September 28th. This represents a $0.88 annualized dividend and a yield of 2.02%. Mondelez International’s dividend payout ratio is presently 66.67%.
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A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Mondelez International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 25th. Piper Jaffray Companies assumed coverage on shares of Mondelez International in a research report on Wednesday, May 24th. They set a “neutral” rating and a $48.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and set a $54.00 target price on shares of Mondelez International in a research report on Monday, May 22nd. BidaskClub lowered shares of Mondelez International from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, TheStreet raised shares of Mondelez International from a “c” rating to a “b-” rating in a research report on Wednesday, April 26th. Two equities research 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 target price of $50.33.
In other Mondelez International news, EVP Maurizio Brusadelli sold 6,248 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $43.76, for a total transaction of $273,412.48. Following the transaction, the executive vice president now owns 61,651 shares in the company, valued at $2,697,847.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.
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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