Norinchukin Bank The raised its holdings in Mondelez International Inc (NASDAQ:MDLZ) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 195,241 shares of the company’s stock after acquiring an additional 6,504 shares during the quarter. Norinchukin Bank The’s holdings in Mondelez International were worth $8,356,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in MDLZ. Banque Pictet & Cie SA raised its holdings in shares of Mondelez International by 90.1% during the 2nd quarter. Banque Pictet & Cie SA now owns 18,904 shares of the company’s stock valued at $816,000 after buying an additional 8,962 shares in the last quarter. Aberdeen Asset Management PLC UK raised its holdings in shares of Mondelez International by 11.2% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 465,221 shares of the company’s stock valued at $20,093,000 after buying an additional 46,992 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Mondelez International during the 2nd quarter valued at about $3,867,000. South Dakota Investment Council raised its holdings in shares of Mondelez International by 130.3% during the 2nd quarter. South Dakota Investment Council now owns 452,848 shares of the company’s stock valued at $19,559,000 after buying an additional 256,250 shares in the last quarter. Finally, Summit Global Investments purchased a new position in shares of Mondelez International during the 2nd quarter valued at about $486,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on MDLZ. BidaskClub raised Mondelez International from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Zacks Investment Research raised Mondelez International from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, February 5th. Barclays reissued a “buy” rating and set a $50.00 price objective on shares of Mondelez International in a report on Friday, February 2nd. Societe Generale raised Mondelez International from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $55.00 in a report on Friday, February 2nd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $52.00 price objective on shares of Mondelez International in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Mondelez International has an average rating of “Buy” and a consensus price target of $50.69.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period last year, the company earned $0.47 EPS. Mondelez International’s revenue for the quarter was up 2.9% compared to the same quarter last year. analysts predict that Mondelez International Inc will post 2.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.88 annualized dividend and a yield of 1.99%. Mondelez International’s payout ratio is 46.07%.
Mondelez International announced that its Board of Directors has authorized a share buyback program on Wednesday, January 31st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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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