Intact Investment Management Inc. lessened its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 9.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,000 shares of the company’s stock after selling 11,700 shares during the period. Intact Investment Management Inc.’s holdings in Mondelez International were worth $5,339,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Mondelez International during the first quarter valued at approximately $32,000. Exane Derivatives purchased a new stake in shares of Mondelez International in the 4th quarter valued at approximately $33,000. Sontag Advisory LLC purchased a new stake in shares of Mondelez International in the 4th quarter valued at approximately $34,000. Gemmer Asset Management LLC increased its stake in Mondelez International by 101.4% in the 1st quarter. Gemmer Asset Management LLC now owns 709 shares of the company’s stock valued at $35,000 after buying an additional 357 shares during the period. Finally, PRW Wealth Management LLC acquired a new position in Mondelez International in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.
In other news, EVP Maurizio Brusadelli sold 39,882 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $54.52, for a total transaction of $2,174,366.64. Following the transaction, the executive vice president now directly owns 85,388 shares of the company’s stock, valued at $4,655,353.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gerhard W. Pleuhs sold 40,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 110,308 shares in the company, valued at $5,688,583.56. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The firm had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Mondelez International had a return on equity of 14.17% and a net margin of 12.66%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 earnings per share. Analysts anticipate that Mondelez International Inc will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.04 annualized dividend and a yield of 1.93%. Mondelez International’s payout ratio is 42.80%.
MDLZ has been the topic of several research reports. Zacks Investment Research lowered shares of Mondelez International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. ValuEngine upgraded Mondelez International from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. BidaskClub cut Mondelez International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. UBS Group raised their price objective on Mondelez International to $56.00 and gave the company a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their price objective on Mondelez International from $50.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.00.
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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