Clearbridge Investments LLC grew its holdings in Mondelez International Inc (NASDAQ:MDLZ) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,005,915 shares of the company’s stock after purchasing an additional 1,641,314 shares during the period. Clearbridge Investments LLC’s holdings in Mondelez International were worth $342,653,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in MDLZ. Bank of Nova Scotia Trust Co. purchased a new stake in Mondelez International in the third quarter worth $113,000. Cerebellum GP LLC purchased a new stake in Mondelez International in the fourth quarter worth $127,000. Taylor Hoffman Wealth Management purchased a new stake in Mondelez International in the fourth quarter worth $144,000. Delpha Capital Management LLC purchased a new stake in Mondelez International in the fourth quarter worth $152,000. Finally, Rockefeller Financial Services Inc. increased its stake in Mondelez International by 300.0% in the third quarter. Rockefeller Financial Services Inc. now owns 4,000 shares of the company’s stock worth $163,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 74.88% of the company’s stock.
In related news, Director Trian Fund Management, L.P. bought 1,028,600 shares of the business’s stock in a transaction on Friday, March 9th. The shares were bought at an average price of $44.27 per share, for a total transaction of $45,536,122.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was bought at an average price of $43.90 per share, for a total transaction of $87,800.00. The disclosure for this purchase can be found here. 3.60% of the stock is owned by insiders.
Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. The company had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. equities research analysts expect that Mondelez International Inc will post 2.47 EPS for the current fiscal year.
Mondelez International declared that its board has initiated a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.88 annualized dividend and a yield of 1.99%. Mondelez International’s dividend payout ratio (DPR) is presently 47.06%.
A number of research firms have weighed in on MDLZ. TheStreet upgraded Mondelez International from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded Mondelez International from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Friday, January 12th. Piper Jaffray Companies restated a “buy” rating and set a $52.00 price target on shares of Mondelez International in a research note on Thursday, February 1st. Susquehanna Bancshares restated a “hold” rating and set a $48.00 price target on shares of Mondelez International in a research note on Tuesday, January 30th. Finally, Societe Generale upgraded Mondelez International from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $55.00 in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $50.69.
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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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