Covington Capital Management lifted its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,108 shares of the company’s stock after purchasing an additional 10,637 shares during the quarter. Covington Capital Management’s holdings in Mondelez International were worth $11,218,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. acquired a new position in Mondelez International during the 3rd quarter worth about $113,000. Cerebellum GP LLC acquired a new position in Mondelez International during the 4th quarter worth about $127,000. Taylor Hoffman Wealth Management acquired a new position in Mondelez International during the 4th quarter worth about $144,000. Delpha Capital Management LLC acquired a new position in Mondelez International during the 4th quarter worth about $152,000. Finally, Rockefeller Financial Services Inc. lifted its stake in Mondelez International by 300.0% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 4,000 shares of the company’s stock worth $163,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.
In other news, EVP Hubert Weber sold 10,931 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $43.79, for a total value of $478,668.49. Following the transaction, the executive vice president now owns 160,865 shares in the company, valued at approximately $7,044,278.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. acquired 1,028,600 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was acquired at an average price of $44.27 per share, for a total transaction of $45,536,122.00. The disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.
Mondelez International Inc (MDLZ) traded up $0.17 during mid-day trading on Wednesday, reaching $44.21. The company’s stock had a trading volume of 382,663 shares, compared to its average volume of 9,418,313. The company has a quick ratio of 0.31, a current ratio of 0.48 and a debt-to-equity ratio of 0.50. The firm has a market cap of $66,022.49, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.50 and a beta of 0.90. Mondelez International Inc has a 52 week low of $39.19 and a 52 week high of $47.23.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.98 billion. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. Mondelez International’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. equities analysts anticipate that Mondelez International Inc will post 2.47 earnings per share for the current fiscal year.
Mondelez International declared that its board has approved a share repurchase plan on Wednesday, January 31st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, March 28th. Mondelez International’s dividend payout ratio is currently 46.07%.
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Mondelez International Profile
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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