Mondelez International Inc (MDLZ) Position Decreased by Cadence Capital Management LLC
Cadence Capital Management LLC reduced its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 36.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 101,816 shares of the company’s stock after selling 58,892 shares during the period. Cadence Capital Management LLC’s holdings in Mondelez International were worth $4,358,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Mondelez International by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,799,909 shares of the company’s stock worth $4,267,168,000 after buying an additional 1,168,269 shares during the last quarter. Northern Trust Corp lifted its position in shares of Mondelez International by 7.3% during the 2nd quarter. Northern Trust Corp now owns 21,688,257 shares of the company’s stock worth $936,717,000 after buying an additional 1,470,112 shares during the last quarter. Lindsell Train Ltd lifted its position in shares of Mondelez International by 18.3% during the 3rd quarter. Lindsell Train Ltd now owns 19,950,710 shares of the company’s stock worth $811,196,000 after buying an additional 3,086,000 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Mondelez International by 1.0% during the 3rd quarter. Macquarie Group Ltd. now owns 16,975,186 shares of the company’s stock worth $690,211,000 after buying an additional 175,487 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Mondelez International by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 16,967,667 shares of the company’s stock valued at $689,906,000 after purchasing an additional 47,563 shares during the last quarter. Institutional investors and hedge funds own 76.11% of the company’s stock.
Several research firms have commented on MDLZ. TheStreet upgraded Mondelez International from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Morgan Stanley increased their target price on Mondelez International from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Societe Generale upgraded Mondelez International from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $55.00 in a research report on Friday, February 2nd. BidaskClub upgraded Mondelez International from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, Susquehanna Bancshares reiterated a “hold” rating and issued a $48.00 target price on shares of Mondelez International in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Mondelez International has a consensus rating of “Buy” and a consensus target price of $50.82.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. sell-side analysts expect that Mondelez International Inc will post 2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, December 29th were paid a $0.22 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.00%. Mondelez International’s payout ratio is 46.07%.
Mondelez International announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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