Destination Wealth Management reduced its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 48.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,074 shares of the company’s stock after selling 1,000 shares during the period. Destination Wealth Management’s holdings in Mondelez International were worth $43,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc increased its stake in Mondelez International by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 105,273,083 shares of the company’s stock worth $4,522,531,000 after acquiring an additional 944,384 shares during the last quarter. BlackRock Inc. increased its stake in Mondelez International by 3.6% in the 3rd quarter. BlackRock Inc. now owns 86,963,350 shares of the company’s stock worth $3,735,944,000 after acquiring an additional 2,995,606 shares during the last quarter. Lindsell Train Ltd increased its stake in Mondelez International by 13.3% in the 3rd quarter. Lindsell Train Ltd now owns 28,982,722 shares of the company’s stock worth $1,245,098,000 after acquiring an additional 3,396,714 shares during the last quarter. Macquarie Group Ltd. increased its stake in Mondelez International by 1.0% in the 3rd quarter. Macquarie Group Ltd. now owns 18,313,517 shares of the company’s stock worth $786,748,000 after acquiring an additional 186,970 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Mondelez International by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,845,702 shares of the company’s stock worth $766,651,000 after acquiring an additional 921,701 shares during the last quarter. 75.80% of the stock is currently owned by hedge funds and other institutional investors.
MDLZ has been the topic of a number of research reports. BidaskClub raised Mondelez International from a “hold” rating to a “buy” rating in a research note on Thursday, November 22nd. Piper Jaffray Companies set a $48.00 price objective on Mondelez International and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Berenberg Bank downgraded Mondelez International from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Thursday, January 24th. Guggenheim initiated coverage on Mondelez International in a research note on Tuesday, January 22nd. They issued a “buy” rating and a $47.00 price objective on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Mondelez International in a research note on Monday, January 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.27.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Wednesday, January 30th. The company reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.77 billion. Mondelez International had a return on equity of 14.03% and a net margin of 12.64%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities analysts expect that Mondelez International Inc will post 2.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, March 28th. Mondelez International’s dividend payout ratio is currently 42.80%.
In other news, EVP Vinzenz P. Gruber sold 10,945 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $45.86, for a total transaction of $501,937.70. Following the transaction, the executive vice president now owns 139,584 shares of the company’s stock, valued at approximately $6,401,322.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
About Mondelez International
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; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
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