OppenheimerFunds Inc. cut its stake in Mondelez International Inc (NASDAQ:MDLZ) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 726,254 shares of the company’s stock after selling 47,399 shares during the quarter. OppenheimerFunds Inc. owned about 0.05% of Mondelez International worth $36,255,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Mondelez International during the fourth quarter worth $657,626,000. Boston Partners bought a new stake in shares of Mondelez International during the first quarter worth $355,441,000. Oregon Public Employees Retirement Fund lifted its position in shares of Mondelez International by 3,854.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,387,067 shares of the company’s stock worth $160,000 after purchasing an additional 6,225,539 shares during the last quarter. Hillhouse Capital Advisors Ltd. bought a new stake in shares of Mondelez International during the fourth quarter worth $141,276,000. Finally, Sound Shore Management Inc. CT bought a new stake in shares of Mondelez International during the fourth quarter worth $141,109,000. Institutional investors own 76.04% of the company’s stock.
Several analysts have recently weighed in on the company. UBS Group lifted their target price on Mondelez International to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded Mondelez International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Evercore ISI assumed coverage on Mondelez International in a research report on Tuesday. They set an “outperform” rating and a $62.00 target price for the company. Credit Suisse Group lifted their target price on Mondelez International from $50.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, BidaskClub upgraded Mondelez International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $50.90.
Shares of Mondelez International stock traded up $0.61 during trading on Wednesday, hitting $54.60. 197,357 shares of the stock traded hands, compared to its average volume of 7,249,458. The firm has a market cap of $77.81 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.85 and a beta of 0.82. The company has a current ratio of 0.48, a quick ratio of 0.33 and a debt-to-equity ratio of 0.50. Mondelez International Inc has a 52-week low of $38.78 and a 52-week high of $54.43.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. The firm had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.55 billion. Mondelez International had a return on equity of 14.17% and a net margin of 12.66%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Analysts forecast that Mondelez International Inc will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.90%. Mondelez International’s dividend payout ratio is currently 42.80%.
In other news, EVP Gerhard W. Pleuhs sold 40,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $51.57, for a total transaction of $2,062,800.00. Following the transaction, the executive vice president now owns 110,308 shares in the company, valued at $5,688,583.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
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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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