Silvercrest Asset Management Group LLC lowered its holdings in Mondelez International Inc (NASDAQ:MDLZ) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,544,572 shares of the company’s stock after selling 9,185 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.11% of Mondelez International worth $83,252,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MDLZ. Ibex Wealth Advisors bought a new stake in Mondelez International during the second quarter worth about $26,000. Brand Asset Management Group Inc. grew its stake in Mondelez International by 1,367.6% during the second quarter. Brand Asset Management Group Inc. now owns 499 shares of the company’s stock worth $27,000 after buying an additional 465 shares during the last quarter. JNBA Financial Advisors grew its stake in Mondelez International by 66.0% during the second quarter. JNBA Financial Advisors now owns 528 shares of the company’s stock worth $28,000 after buying an additional 210 shares during the last quarter. Manchester Financial Inc. bought a new stake in Mondelez International during the second quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in Mondelez International during the second quarter worth about $32,000. 76.44% of the stock is currently owned by institutional investors and hedge funds.
In other Mondelez International news, EVP Vinzenz P. Gruber sold 40,377 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $56.68, for a total value of $2,288,568.36. Following the completion of the sale, the executive vice president now owns 112,137 shares of the company’s stock, valued at $6,355,925.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Mondelez International had a net margin of 14.57% and a return on equity of 14.07%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the business posted $0.56 earnings per share. Mondelez International’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that Mondelez International Inc will post 2.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, September 27th. This is an increase from Mondelez International’s previous quarterly dividend of $0.26. Mondelez International’s dividend payout ratio is presently 42.80%.
Several analysts have weighed in on the stock. BidaskClub raised shares of Mondelez International from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Wells Fargo & Co upped their price objective on shares of Mondelez International from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised shares of Mondelez International from an “equal weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research note on Wednesday, August 7th. ValuEngine raised shares of Mondelez International from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus upped their target price on shares of Mondelez International from $52.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $57.50.
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; 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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