Manning & Napier Group LLC Sells 253,570 Shares of Mondelez International Inc (NASDAQ:MDLZ)

Manning & Napier Group LLC reduced its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,569,154 shares of the company’s stock after selling 253,570 shares during the quarter. Mondelez International accounts for 2.2% of Manning & Napier Group LLC’s holdings, making the stock its 8th biggest holding. Manning & Napier Group LLC’s holdings in Mondelez International were worth $197,444,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Mondelez International in the second quarter valued at about $7,797,000. Foresters Investment Management Company Inc. raised its position in Mondelez International by 38.7% in the second quarter. Foresters Investment Management Company Inc. now owns 414,650 shares of the company’s stock valued at $22,350,000 after purchasing an additional 115,600 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Mondelez International by 10.3% in the second quarter. Janney Montgomery Scott LLC now owns 407,613 shares of the company’s stock valued at $21,970,000 after purchasing an additional 38,103 shares during the last quarter. Bahl & Gaynor Inc. raised its position in Mondelez International by 76.2% in the second quarter. Bahl & Gaynor Inc. now owns 2,837,698 shares of the company’s stock valued at $152,952,000 after purchasing an additional 1,227,133 shares during the last quarter. Finally, Alphasimplex Group LLC raised its position in Mondelez International by 31.9% in the first quarter. Alphasimplex Group LLC now owns 68,437 shares of the company’s stock valued at $3,416,000 after purchasing an additional 16,536 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on the company. Piper Jaffray Companies set a $62.00 price objective on Mondelez International and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group set a $62.00 price objective on Mondelez International and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Credit Suisse Group raised their price objective on Mondelez International from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Buckingham Research raised their price objective on Mondelez International from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. They noted that the move was a valuation call. Finally, Morgan Stanley upgraded Mondelez International from an “equal weight” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.50.

MDLZ stock traded up $0.32 during mid-day trading on Thursday, reaching $55.27. The company’s stock had a trading volume of 114,435 shares, compared to its average volume of 6,074,299. The company has a market cap of $79.42 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.80. The business’s 50 day moving average price is $54.97 and its 200 day moving average price is $53.24. The company has a current ratio of 0.44, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47. Mondelez International Inc has a 12 month low of $38.78 and a 12 month high of $56.72.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, July 30th. The company reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.03 billion. Mondelez International had a return on equity of 14.07% and a net margin of 14.57%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. As a group, equities analysts expect that Mondelez International Inc will post 2.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a $0.285 dividend. This is an increase from Mondelez International’s previous quarterly dividend of $0.26. This represents a $1.14 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, September 27th. Mondelez International’s payout ratio is presently 46.91%.

In other Mondelez International news, EVP Vinzenz P. Gruber sold 40,377 shares of Mondelez International stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 112,137 shares in the company, valued at $6,355,925.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Mondelez International Profile

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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Institutional Ownership by Quarter for Mondelez International (NASDAQ:MDLZ)

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