Palisade Capital Management LLC NJ Reduces Position in Mondelez International, Inc. (MDLZ)
Palisade Capital Management LLC NJ cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 27.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,383 shares of the company’s stock after selling 52,776 shares during the period. Palisade Capital Management LLC NJ’s holdings in Mondelez International were worth $5,749,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in MDLZ. Vanguard Group Inc. lifted its stake in shares of Mondelez International by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,799,909 shares of the company’s stock valued at $4,267,168,000 after purchasing an additional 1,168,269 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Mondelez International by 7.3% in the 2nd quarter. Northern Trust Corp now owns 21,688,257 shares of the company’s stock valued at $936,717,000 after purchasing an additional 1,470,112 shares during the last quarter. Lindsell Train Ltd lifted its stake in shares of Mondelez International by 16.2% in the 2nd quarter. Lindsell Train Ltd now owns 16,864,710 shares of the company’s stock valued at $728,387,000 after purchasing an additional 2,357,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Mondelez International by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 15,445,600 shares of the company’s stock valued at $664,480,000 after purchasing an additional 1,041,124 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Mondelez International by 2.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 14,079,346 shares of the company’s stock valued at $572,466,000 after purchasing an additional 326,000 shares during the last quarter. 75.86% of the stock is owned by institutional investors.
In other Mondelez International news, Director Lewis W. K. Booth purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $41.29 per share, with a total value of $61,935.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel P. Myers sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 20,965 shares of the company’s stock, valued at $858,307.10. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.
Shares of Mondelez International, Inc. (MDLZ) opened at $43.33 on Thursday. Mondelez International, Inc. has a one year low of $39.19 and a one year high of $47.23. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $64,570.00, a P/E ratio of 21.03, a P/E/G ratio of 1.78 and a beta of 0.98.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.03. Mondelez International had a return on equity of 12.31% and a net margin of 8.61%. The firm had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the company earned $0.52 EPS. Mondelez International’s quarterly revenue was up 2.1% compared to the same quarter last year. analysts anticipate that Mondelez International, Inc. will post 2.14 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on MDLZ shares. UBS reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Mondelez International in a research note on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mondelez International in a research note on Friday, September 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Mondelez International in a research note on Tuesday, September 19th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Mondelez International in a research note on Wednesday, September 20th. Finally, Zacks Investment Research raised Mondelez International from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $49.40.
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Mondelez International 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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