Suntrust Banks Inc. reduced its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,821 shares of the company’s stock after selling 44,717 shares during the quarter. Suntrust Banks Inc.’s holdings in Mondelez International were worth $25,798,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of MDLZ. Aberdeen Asset Management PLC UK raised its stake in Mondelez International by 11.2% in the second 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 during the last quarter. Engineers Gate Manager LP purchased a new stake in Mondelez International in the second quarter valued at about $3,867,000. South Dakota Investment Council raised its stake in Mondelez International by 130.3% in the second 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 during the last quarter. Summit Global Investments purchased a new stake in Mondelez International in the second quarter valued at about $486,000. Finally, Sand Hill Global Advisors LLC purchased a new stake in Mondelez International in the third quarter valued at about $4,113,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.
MDLZ has been the subject of a number of research analyst reports. BidaskClub cut Mondelez International from a “sell” rating to a “strong sell” rating in a research note on Friday, January 5th. Credit Suisse Group increased their price target on Mondelez International from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. increased their price target on Mondelez International from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Mondelez International from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Friday, January 12th. Finally, Piper Jaffray Companies set a $50.00 price target on Mondelez International and gave the company a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.69.
In related news, Director Charles E. Bunch bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of $43.90 per share, with a total value of $87,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by company insiders.
Mondelez International Inc (NASDAQ MDLZ) opened at $44.13 on Wednesday. Mondelez International Inc has a 12 month low of $39.19 and a 12 month high of $47.23. The stock has a market capitalization of $65,640.00, a PE ratio of 23.10, a PEG ratio of 1.49 and a beta of 0.92. The company has a quick ratio of 0.31, a current ratio of 0.48 and a debt-to-equity ratio of 0.50.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data 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 firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same period last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. research analysts anticipate that Mondelez International Inc will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, March 28th. Mondelez International’s dividend payout ratio (DPR) is 46.07%.
Mondelez International announced that its board has approved a stock repurchase program on Wednesday, January 31st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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