Mondelez International, Inc. (MDLZ) Sees Significant Drop in Short Interest
Mondelez International, Inc. (NASDAQ:MDLZ) was the recipient of a significant drop in short interest during the month of October. As of October 13th, there was short interest totalling 14,465,253 shares, a drop of 22.7% from the September 29th total of 18,703,124 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average trading volume of 7,881,209 shares, the short-interest ratio is presently 1.8 days.
Several equities research analysts have issued reports on MDLZ shares. BidaskClub downgraded shares of Mondelez International from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. UBS Group AG restated a “buy” rating and set a $51.00 price objective on shares of Mondelez International in a research report on Thursday, July 6th. Piper Jaffray Companies upgraded shares of Mondelez International from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $48.00 to $49.00 in a research report on Tuesday, July 25th. Royal Bank Of Canada restated an “outperform” rating and set a $53.00 price objective (down from $54.00) on shares of Mondelez International in a research report on Monday, July 31st. Finally, Susquehanna Bancshares Inc restated a “hold” rating on shares of Mondelez International in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.23.
Shares of Mondelez International (NASDAQ:MDLZ) opened at 40.91 on Friday. Mondelez International has a 52-week low of $40.04 and a 52-week high of $47.23. The stock has a 50 day moving average of $40.92 and a 200-day moving average of $43.44. The firm has a market capitalization of $61.68 billion, a P/E ratio of 35.98 and a beta of 1.20.
Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Mondelez International had a net margin of 6.92% and a return on equity of 11.96%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.98 billion. During the same period in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities analysts expect that Mondelez International will post $2.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were paid a $0.22 dividend. The ex-dividend date was Thursday, September 28th. This is a boost from Mondelez International’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a yield of 2.15%. Mondelez International’s dividend payout ratio is currently 77.19%.
In other Mondelez International news, EVP Maurizio Brusadelli sold 6,248 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.76, for a total transaction of $273,412.48. Following the completion of the sale, the executive vice president now directly owns 61,651 shares in the company, valued at $2,697,847.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel P. Myers sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $40.94, for a total transaction of $286,580.00. Following the sale, the executive vice president now owns 20,965 shares of the company’s stock, valued at $858,307.10. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Pictet & Cie SA lifted its stake in Mondelez International by 90.1% in the 2nd quarter. Banque Pictet & Cie SA now owns 18,904 shares of the company’s stock worth $816,000 after purchasing an additional 8,962 shares in the last quarter. Vanguard Group Inc. lifted its stake in Mondelez International by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 97,631,640 shares of the company’s stock worth $4,205,971,000 after purchasing an additional 2,720,253 shares in the last quarter. AQR Capital Management LLC lifted its stake in Mondelez International by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 440,459 shares of the company’s stock worth $18,975,000 after purchasing an additional 134,286 shares in the last quarter. KCG Holdings Inc. lifted its stake in Mondelez International by 858.7% in the 1st quarter. KCG Holdings Inc. now owns 134,524 shares of the company’s stock worth $5,795,000 after purchasing an additional 120,492 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Mondelez International by 1.5% in the 1st quarter. King Luther Capital Management Corp now owns 736,716 shares of the company’s stock worth $31,738,000 after purchasing an additional 10,915 shares in the last quarter. Institutional investors and hedge funds own 75.35% of the company’s stock.
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About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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