Cypress Asset Management Inc. TX cut its position in Mondelez International Inc (NASDAQ:MDLZ) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,475 shares of the company’s stock after selling 200 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Mondelez International were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ibex Wealth Advisors acquired a new position in Mondelez International during the 2nd quarter worth $26,000. Brand Asset Management Group Inc. grew its stake in Mondelez International by 1,367.6% during the 2nd quarter. Brand Asset Management Group Inc. now owns 499 shares of the company’s stock worth $27,000 after purchasing an additional 465 shares in the last quarter. JNBA Financial Advisors grew its stake in Mondelez International by 66.0% during the 2nd quarter. JNBA Financial Advisors now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 210 shares in the last quarter. Manchester Financial Inc. acquired a new position in Mondelez International during the 2nd quarter worth $30,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in Mondelez International during the 2nd quarter worth $32,000. 76.50% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:MDLZ traded down $0.19 on Monday, hitting $54.29. 53,568 shares of the company’s stock were exchanged, compared to its average volume of 5,400,964. The firm’s 50-day moving average is $55.07 and its 200 day moving average is $53.48. The company has a market capitalization of $78.78 billion, a PE ratio of 22.36, a P/E/G ratio of 2.84 and a beta of 0.80. Mondelez International Inc has a 1-year low of $38.78 and a 1-year high of $56.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.44.
The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a $0.285 dividend. This is an increase from Mondelez International’s previous quarterly dividend of $0.26. This represents a $1.14 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, September 27th. Mondelez International’s payout ratio is presently 46.91%.
Several research analysts recently commented on MDLZ shares. Buckingham Research boosted their target price on Mondelez International from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. They noted that the move was a valuation call. Morgan Stanley raised 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. Wells Fargo & Co upped their price objective on Mondelez International from $60.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 23rd. Credit Suisse Group upped 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. Finally, Stifel Nicolaus upped their price objective on 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, four have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $58.15.
In other news, EVP Vinzenz P. Gruber sold 40,377 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,355,925.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.
Mondelez International Company 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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