Manning & Napier Group LLC lowered its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,569,154 shares of the company’s stock after selling 253,570 shares during the period. Mondelez International comprises 2.2% of Manning & Napier Group LLC’s portfolio, making the stock its 8th largest holding. Manning & Napier Group LLC owned approximately 0.25% of Mondelez International worth $197,444,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of MDLZ. Ibex Wealth Advisors acquired a new position in shares of Mondelez International during the 2nd quarter worth about $26,000. Brand Asset Management Group Inc. grew its position in shares of Mondelez International by 1,367.6% during the 2nd quarter. Brand Asset Management Group Inc. now owns 499 shares of the company’s stock worth $27,000 after buying an additional 465 shares during the period. JNBA Financial Advisors grew its position in shares of Mondelez International by 66.0% during the 2nd quarter. JNBA Financial Advisors now owns 528 shares of the company’s stock worth $28,000 after buying an additional 210 shares during the period. Manchester Financial Inc. acquired a new position in shares of Mondelez International during the 2nd quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Mondelez International during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.
In other Mondelez International news, EVP Vinzenz P. Gruber sold 40,377 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $56.68, for a total transaction of $2,288,568.36. Following the completion of the transaction, the executive vice president now owns 112,137 shares of the company’s stock, valued at approximately $6,355,925.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Mondelez International had a return on equity of 14.07% and a net margin of 14.57%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that Mondelez International Inc will post 2.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.14 dividend on an annualized basis and a yield of 2.06%. This is an increase from Mondelez International’s previous quarterly dividend of $0.26. Mondelez International’s dividend payout ratio is 46.91%.
Several brokerages recently issued reports on MDLZ. Buckingham Research boosted their price objective on Mondelez International from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. They noted that the move was a valuation call. Credit Suisse Group boosted their price objective on Mondelez International from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley upgraded Mondelez International from an “equal weight” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Wednesday, August 7th. Citigroup set a $60.00 price objective on Mondelez International and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on Mondelez International from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.50.
Mondelez International Company 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; 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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