Bank of The West Reduces Holdings in Mondelez International, Inc. (MDLZ)
Bank of The West reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 11.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,456 shares of the company’s stock after selling 671 shares during the period. Bank of The West’s holdings in Mondelez International were worth $236,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in Mondelez International by 637.3% in the 1st quarter. Proficio Capital Partners LLC now owns 2,271 shares of the company’s stock worth $105,000 after purchasing an additional 1,963 shares during the last quarter. Assetmark Inc. increased its position in Mondelez International by 13.5% in the 1st quarter. Assetmark Inc. now owns 3,367 shares of the company’s stock worth $145,000 after purchasing an additional 401 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Mondelez International by 0.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 3,765 shares of the company’s stock worth $162,000 after purchasing an additional 24 shares during the last quarter. Exane Derivatives increased its position in Mondelez International by 1,509.1% in the 1st quarter. Exane Derivatives now owns 3,894 shares of the company’s stock worth $168,000 after purchasing an additional 3,652 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position in Mondelez International by 2.7% in the 1st quarter. Oakworth Capital Inc. now owns 4,681 shares of the company’s stock worth $201,000 after purchasing an additional 124 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors.
MDLZ has been the topic of several research reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mondelez International in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of Mondelez International in a research report on Tuesday, June 13th. UBS AG reaffirmed a “buy” rating and issued a $51.00 target price on shares of Mondelez International in a research report on Thursday, July 6th. Morgan Stanley upped their target price on Mondelez International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 25th. Finally, BidaskClub lowered Mondelez International from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.33.
In related news, EVP Daniel P. Myers sold 7,000 shares of Mondelez International stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $40.94, for a total value of $286,580.00. Following the sale, the executive vice president now owns 20,965 shares of the company’s stock, valued at $858,307.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maurizio Brusadelli sold 6,248 shares of Mondelez International stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $43.76, for a total value of $273,412.48. Following the completion of the sale, the executive vice president now directly owns 61,651 shares in the company, valued at approximately $2,697,847.76. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
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Mondelez International, Inc. (MDLZ) traded up 0.44% during mid-day trading on Friday, hitting $40.86. The stock had a trading volume of 11,392,258 shares. The company has a market capitalization of $61.60 billion, a P/E ratio of 35.94 and a beta of 1.20. The stock’s 50-day moving average is $42.45 and its 200 day moving average is $44.03. Mondelez International, Inc. has a 52 week low of $40.22 and a 52 week high of $47.23.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.98 billion. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. Mondelez International’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. Equities analysts forecast that Mondelez International, Inc. will post $2.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.15%. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. Mondelez International’s payout ratio is currently 66.67%.
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.
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