Norris Perne & French LLP MI boosted its position in Mondelez International Inc (NASDAQ:MDLZ) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 179,524 shares of the company’s stock after buying an additional 3,419 shares during the quarter. Norris Perne & French LLP MI’s holdings in Mondelez International were worth $7,712,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Quad Cities Investment Group LLC bought a new stake in Mondelez International in the 2nd quarter worth about $111,000. Kaizen Advisory LLC boosted its stake in Mondelez International by 131.7% in the second quarter. Kaizen Advisory LLC now owns 3,387 shares of the company’s stock valued at $139,000 after acquiring an additional 1,925 shares during the last quarter. BKS Advisors LLC purchased a new position in Mondelez International in the third quarter valued at about $141,000. Sun Life Financial INC boosted its stake in Mondelez International by 1,312.4% in the second quarter. Sun Life Financial INC now owns 3,997 shares of the company’s stock valued at $164,000 after acquiring an additional 3,714 shares during the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in Mondelez International in the third quarter valued at about $167,000. 74.78% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on MDLZ shares. BidaskClub upgraded shares of Mondelez International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. ValuEngine upgraded shares of Mondelez International from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Royal Bank of Canada dropped their target price on shares of Mondelez International to $51.00 and set an “outperform” rating on the stock in a research note on Monday, July 16th. Zacks Investment Research cut shares of Mondelez International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Mondelez International from $45.00 to $47.00 and gave the company a “$41.68” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $49.21.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Mondelez International had a net margin of 11.58% and a return on equity of 13.42%. Mondelez International’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. On average, sell-side analysts anticipate that Mondelez International Inc will post 2.43 EPS for the current fiscal year.
In related news, EVP Maurizio Brusadelli sold 7,381 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $43.74, for a total transaction of $322,844.94. Following the sale, the executive vice president now directly owns 73,959 shares in the company, valued at approximately $3,234,966.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel P. Myers sold 27,963 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $43.44, for a total transaction of $1,214,712.72. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Mondelez International Profile
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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