Cornerstone Wealth Group LLC raised its stake in Mondelez International Inc (NASDAQ:MDLZ) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,067 shares of the company’s stock after purchasing an additional 208 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Mondelez International were worth $273,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MDLZ. SRS Capital Advisors Inc. acquired a new position in shares of Mondelez International in the second quarter worth $84,000. Albion Financial Group UT grew its position in shares of Mondelez International by 3.0% in the second quarter. Albion Financial Group UT now owns 10,299 shares of the company’s stock valued at $555,000 after purchasing an additional 299 shares during the period. Hallmark Capital Management Inc. grew its position in shares of Mondelez International by 2.0% in the second quarter. Hallmark Capital Management Inc. now owns 14,816 shares of the company’s stock valued at $799,000 after purchasing an additional 288 shares during the period. Opus Capital Group LLC grew its position in shares of Mondelez International by 78.1% in the second quarter. Opus Capital Group LLC now owns 12,270 shares of the company’s stock valued at $661,000 after purchasing an additional 5,380 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Mondelez International by 40.9% in the second quarter. Acadian Asset Management LLC now owns 87,088 shares of the company’s stock valued at $4,694,000 after purchasing an additional 25,287 shares during the period. Institutional investors own 76.56% of the company’s stock.
Shares of NASDAQ MDLZ opened at $54.84 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $54.61 and its two-hundred day moving average price is $52.23. The stock has a market capitalization of $78.35 billion, a P/E ratio of 22.56, a PEG ratio of 2.85 and a beta of 0.82. Mondelez International Inc has a 52-week low of $38.78 and a 52-week high of $56.72.
Mondelez International (NASDAQ:MDLZ) last announced 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 business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the firm earned $0.56 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Mondelez International Inc will post 2.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Mondelez International’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 27th. Mondelez International’s dividend payout ratio is 42.80%.
A number of brokerages have recently commented on MDLZ. Buckingham Research lifted 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. ValuEngine raised Mondelez International from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group set a $62.00 price target on Mondelez International and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their target price on Mondelez International from $52.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI started coverage on Mondelez International in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.50.
In related news, EVP Vinzenz P. Gruber sold 40,377 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $56.68, for a total value of $2,288,568.36. Following the completion of the transaction, the executive vice president now directly owns 112,137 shares of the company’s stock, valued at approximately $6,355,925.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.
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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