Traders Buy Mondelez International, Inc. (MDLZ) on Weakness
Investors bought shares of Mondelez International, Inc. (NASDAQ:MDLZ) on weakness during trading on Tuesday. $141.71 million flowed into the stock on the tick-up and $33.35 million flowed out of the stock on the tick-down, for a money net flow of $108.36 million into the stock. Of all equities tracked, Mondelez International had the 6th highest net in-flow for the day. Mondelez International traded down ($0.15) for the day and closed at $40.73
Several brokerages have issued reports on MDLZ. Piper Jaffray Companies upgraded shares of Mondelez International from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $48.00 to $49.00 in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating on shares of Mondelez International in a report on Friday. UBS AG reiterated a “buy” rating and set a $51.00 target price on shares of Mondelez International in a report on Thursday, July 6th. BidaskClub cut shares of Mondelez International from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $49.00 target price (down from $50.00) on shares of Mondelez International in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Mondelez International has a consensus rating of “Buy” and an average target price of $50.33.
The stock has a market cap of $61.41 billion, a price-to-earnings ratio of 35.82 and a beta of 1.20. The firm’s 50 day moving average price is $43.17 and its 200-day moving average price is $44.24.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $5.98 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, equities analysts predict that Mondelez International, Inc. will post $2.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 28th. Mondelez International’s dividend payout ratio is 66.67%.
In related 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Griffin Asset Management Inc. acquired a new position in Mondelez International in the second quarter valued at approximately $1,038,000. RNC Capital Management LLC boosted its holdings in Mondelez International by 8.3% in the second quarter. RNC Capital Management LLC now owns 6,757 shares of the company’s stock valued at $292,000 after purchasing an additional 516 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in Mondelez International by 0.6% in the second quarter. Sentry Investment Management LLC now owns 123,050 shares of the company’s stock valued at $5,315,000 after purchasing an additional 789 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Mondelez International by 23.0% in the second quarter. Toronto Dominion Bank now owns 545,943 shares of the company’s stock valued at $23,577,000 after purchasing an additional 101,952 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Mondelez International by 27.8% in the second quarter. Cetera Investment Advisers now owns 14,748 shares of the company’s stock valued at $639,000 after purchasing an additional 3,206 shares in the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
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Mondelez International Company Profile
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.