Destination Wealth Management grew its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 37.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,476 shares of the company’s stock after buying an additional 402 shares during the period. Destination Wealth Management’s holdings in Mondelez International were worth $74,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Mondelez International by 10.7% in the third quarter. Nordea Investment Management AB now owns 2,490,213 shares of the company’s stock worth $106,979,000 after purchasing an additional 240,909 shares during the period. Legal & General Group Plc increased its stake in Mondelez International by 3.1% in the third quarter. Legal & General Group Plc now owns 6,918,867 shares of the company’s stock worth $297,232,000 after purchasing an additional 210,760 shares during the period. Morgan Stanley increased its stake in Mondelez International by 21.8% in the third quarter. Morgan Stanley now owns 15,212,685 shares of the company’s stock worth $653,539,000 after purchasing an additional 2,721,080 shares during the period. Vanguard Group Inc increased its stake in Mondelez International by 0.9% in the third quarter. Vanguard Group Inc now owns 105,273,083 shares of the company’s stock worth $4,522,531,000 after purchasing an additional 944,384 shares during the period. Finally, Chesley Taft & Associates LLC increased its stake in Mondelez International by 12.7% in the fourth quarter. Chesley Taft & Associates LLC now owns 14,958 shares of the company’s stock worth $599,000 after purchasing an additional 1,680 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.
MDLZ stock traded up $0.19 during trading on Wednesday, reaching $51.16. 7,530,400 shares of the company traded hands, compared to its average volume of 7,324,625. Mondelez International Inc has a 12 month low of $38.78 and a 12 month high of $52.98. The company has a market cap of $73.42 billion, a P/E ratio of 21.05, a PEG ratio of 2.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.48 and a quick ratio of 0.33.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Mondelez International had a return on equity of 14.17% and a net margin of 12.66%. The company had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts anticipate that Mondelez International Inc will post 2.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, June 27th. Mondelez International’s payout ratio is currently 42.80%.
In related news, EVP Alejandro Lorenzo sold 26,347 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $46.94, for a total transaction of $1,236,728.18. Following the sale, the executive vice president now owns 59,320 shares of the company’s stock, valued at $2,784,480.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gerhard W. Pleuhs sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $51.57, for a total value of $2,062,800.00. Following the sale, the executive vice president now directly owns 110,308 shares in the company, valued at approximately $5,688,583.56. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
MDLZ has been the topic of a number of recent research reports. Zacks Investment Research downgraded Mondelez International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. ValuEngine raised Mondelez International from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. BidaskClub downgraded Mondelez International from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Barclays reissued a “buy” rating and set a $49.00 price target on shares of Mondelez International in a research report on Friday, February 1st. Finally, UBS Group increased their price target on Mondelez International to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Mondelez International has a consensus rating of “Buy” and an average price target of $49.67.
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Mondelez International Company Profile
Mondelez International, Inc, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's primary snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; and Trident gums and Tang powdered beverages.
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