Cibc World Markets Corp lessened its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 60.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 310,753 shares of the company’s stock after selling 473,117 shares during the quarter. Cibc World Markets Corp’s holdings in Mondelez International were worth $19,403,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in MDLZ. BlackRock Inc. lifted its holdings in Mondelez International by 0.6% during the first quarter. BlackRock Inc. now owns 93,870,035 shares of the company’s stock valued at $5,494,214,000 after purchasing an additional 576,023 shares in the last quarter. Lindsell Train Ltd lifted its holdings in Mondelez International by 3.3% during the first quarter. Lindsell Train Ltd now owns 31,261,035 shares of the company’s stock valued at $1,829,708,000 after purchasing an additional 997,949 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Mondelez International by 2.0% during the first quarter. Geode Capital Management LLC now owns 22,101,716 shares of the company’s stock valued at $1,289,817,000 after purchasing an additional 424,151 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mondelez International by 32.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,100,110 shares of the company’s stock valued at $1,117,929,000 after purchasing an additional 4,680,414 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Mondelez International by 15.5% during the first quarter. Nuveen Asset Management LLC now owns 14,013,506 shares of the company’s stock valued at $820,210,000 after purchasing an additional 1,875,706 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.
Several equities analysts have issued reports on MDLZ shares. Piper Sandler increased their price objective on shares of Mondelez International from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $71.00 price target on shares of Mondelez International in a research note on Friday, August 6th. The Goldman Sachs Group downgraded shares of Mondelez International from a “conviction-buy” rating to a “buy” rating in a research note on Friday, July 30th. Finally, Guggenheim raised their price target on shares of Mondelez International from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $67.08.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, July 27th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Mondelez International had a net margin of 15.49% and a return on equity of 14.30%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.41 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Mondelez International, Inc. will post 2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Mondelez International’s previous quarterly dividend of $0.32. Mondelez International’s payout ratio is 48.65%.
In related news, Director Peter W. May sold 79,346 shares of Mondelez International stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $62.06, for a total value of $4,924,212.76. Following the completion of the transaction, the director now owns 16,062 shares in the company, valued at $996,807.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 640,316 shares of company stock valued at $39,732,619 in the last 90 days. Company insiders own 0.90% of the company’s stock.
Mondelez International Company Profile
Mondelez International, Inc engages in the manufacture and marketing of snack food and beverage products. It operates through the following geographical segments: Latin America; Asia, Middle East, and Africa; Europe; and North America. Its products include beverages, biscuits, chocolate, gum & candy, cheese & grocery and meals.
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