OLD National Bancorp IN Sells 1,479 Shares of Mondelez International Inc (MDLZ)
OLD National Bancorp IN lowered its position in Mondelez International Inc (NASDAQ:MDLZ) by 4.5% during the 4th quarter, HoldingsChannel reports. The fund owned 31,166 shares of the company’s stock after selling 1,479 shares during the period. OLD National Bancorp IN’s holdings in Mondelez International were worth $1,334,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in MDLZ. Vanguard Group Inc. lifted its holdings in shares of Mondelez International by 1.2% in the second 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 in the last quarter. Northern Trust Corp increased its position in shares of Mondelez International by 7.3% during the second quarter. Northern Trust Corp now owns 21,688,257 shares of the company’s stock valued at $936,717,000 after acquiring an additional 1,470,112 shares during the last quarter. Lindsell Train Ltd increased its position in shares of Mondelez International by 18.3% during the third quarter. Lindsell Train Ltd now owns 19,950,710 shares of the company’s stock valued at $811,196,000 after acquiring an additional 3,086,000 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Mondelez International by 1.0% during the third quarter. Macquarie Group Ltd. now owns 16,975,186 shares of the company’s stock valued at $690,211,000 after acquiring an additional 175,487 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 worth $689,906,000 after buying an additional 47,563 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.
Shares of Mondelez International Inc (NASDAQ MDLZ) opened at $42.53 on Tuesday. The stock has a market capitalization of $62,973.51, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.43 and a beta of 0.92. Mondelez International Inc has a 52 week low of $39.19 and a 52 week high of $47.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.31 and a current ratio of 0.48.
Mondelez International announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 31st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, March 28th. Mondelez International’s dividend payout ratio is 46.07%.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Mondelez International from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. TheStreet raised Mondelez International from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Piper Jaffray Companies reissued a “buy” rating and issued a $52.00 target price on shares of Mondelez International in a research report on Thursday, February 1st. Barclays reissued a “buy” rating and issued a $50.00 target price on shares of Mondelez International in a research report on Friday, February 2nd. Finally, Susquehanna Bancshares set a $45.00 target price on Mondelez International and gave the stock a “hold” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $50.69.
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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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