Sand Hill Global Advisors LLC lowered its position in Mondelez International (NASDAQ:MDLZ) by 89.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,646 shares of the company’s stock after selling 93,294 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Mondelez International were worth $444,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Mondelez International by 0.3% in the first quarter. BlackRock Inc. now owns 85,138,316 shares of the company’s stock valued at $3,552,822,000 after buying an additional 222,126 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Mondelez International by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 15,969,761 shares of the company’s stock valued at $682,086,000 after buying an additional 293,875 shares in the last quarter. Parnassus Investments CA increased its position in shares of Mondelez International by 0.4% in the fourth quarter. Parnassus Investments CA now owns 11,702,943 shares of the company’s stock valued at $500,886,000 after buying an additional 47,505 shares in the last quarter. Independent Franchise Partners LLP increased its position in shares of Mondelez International by 1.3% in the fourth quarter. Independent Franchise Partners LLP now owns 8,996,362 shares of the company’s stock valued at $385,044,000 after buying an additional 113,573 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Mondelez International by 25.8% in the fourth quarter. Clearbridge Investments LLC now owns 8,005,915 shares of the company’s stock valued at $342,653,000 after buying an additional 1,641,314 shares in the last quarter. Institutional investors and hedge funds own 75.97% of the company’s stock.
Shares of NASDAQ:MDLZ opened at $39.58 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Mondelez International has a 12-month low of $37.42 and a 12-month high of $47.23. The stock has a market capitalization of $58.35 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 1.35 and a beta of 0.87.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Mondelez International had a return on equity of 13.04% and a net margin of 12.31%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. sell-side analysts expect that Mondelez International will post 2.45 earnings per share for the current year.
Mondelez International announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 31st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, June 28th. Mondelez International’s payout ratio is 41.12%.
In other Mondelez International news, Director Trian Fund Management, L.P. purchased 1,028,600 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were purchased at an average cost of $44.27 per share, with a total value of $45,536,122.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.
A number of brokerages have recently weighed in on MDLZ. Barclays restated a “buy” rating and issued a $50.00 price target on shares of Mondelez International in a research report on Friday, February 2nd. Consumer Edge lowered Mondelez International from an “outperform” rating to a “neutral” rating in a research note on Monday, May 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $52.00 price objective on shares of Mondelez International in a research note on Thursday, February 1st. Bank of America increased their price objective on Mondelez International from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, BidaskClub raised Mondelez International from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.53.
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; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
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