State of Michigan Retirement System lifted its position in shares of Mondelez International Inc (NASDAQ:MDLZ) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364,603 shares of the company’s stock after purchasing an additional 34,547 shares during the quarter. State of Michigan Retirement System’s holdings in Mondelez International were worth $18,642,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MDLZ. Marquette Asset Management LLC acquired a new stake in shares of Mondelez International during the 1st quarter worth approximately $25,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Mondelez International during the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its stake in shares of Mondelez International by 71.5% during the 1st quarter. NewSquare Capital LLC now owns 506 shares of the company’s stock worth $25,000 after purchasing an additional 211 shares during the period. CVA Family Office LLC acquired a new stake in shares of Mondelez International during the 1st quarter worth approximately $25,000. Finally, Financial Management Professionals Inc. grew its stake in shares of Mondelez International by 249.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 482 shares of the company’s stock worth $25,000 after purchasing an additional 344 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Mondelez International from a “hold” rating to a “buy” rating in a research note on Thursday. Guggenheim lifted their price target on shares of Mondelez International from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group lifted their price target on shares of Mondelez International from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays reissued a “buy” rating and issued a $62.00 price target on shares of Mondelez International in a research note on Thursday. Finally, Seaport Global Securities began coverage on shares of Mondelez International in a research note on Tuesday. They issued a “buy” rating and a $61.00 price target on the stock. Twenty research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $62.24.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.92 billion. Mondelez International had a net margin of 13.31% and a return on equity of 14.02%. Mondelez International’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. On average, analysts predict that Mondelez International Inc will post 2.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.315 dividend. This is a positive change from Mondelez International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, September 29th. Mondelez International’s payout ratio is 46.15%.
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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