Nippon Life Global Investors Americas Inc. Decreases Holdings in Mondelez International (MDLZ)
Nippon Life Global Investors Americas Inc. lessened its stake in shares of Mondelez International (NASDAQ:MDLZ) by 10.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,710 shares of the company’s stock after selling 10,500 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Mondelez International were worth $3,869,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in shares of Mondelez International by 3,206.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 44,532 shares of the company’s stock worth $1,906,000 after buying an additional 43,185 shares during the last quarter. Timber Hill LLC bought a new stake in shares of Mondelez International during the fourth quarter worth $4,451,000. Princeton Capital Management LLC bought a new stake in shares of Mondelez International during the fourth quarter worth $313,000. Virtus Fund Advisers LLC grew its stake in shares of Mondelez International by 17.6% during the fourth quarter. Virtus Fund Advisers LLC now owns 2,314,248 shares of the company’s stock worth $99,557,000 after buying an additional 345,837 shares during the last quarter. Finally, Good Life Advisors LLC bought a new stake in shares of Mondelez International during the fourth quarter worth $201,000. 75.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on MDLZ shares. Zacks Investment Research upgraded shares of Mondelez International from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, March 20th. Credit Suisse Group set a $48.00 price target on shares of Mondelez International and gave the stock a “buy” rating in a report on Monday, April 16th. Stifel Nicolaus cut their price target on shares of Mondelez International from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Wednesday, May 2nd. Morgan Stanley lifted their price target on shares of Mondelez International from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Societe Generale upgraded shares of Mondelez International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $55.00 in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.53.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.65 billion. Mondelez International had a net margin of 12.31% and a return on equity of 13.04%. Mondelez International’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. equities analysts anticipate that Mondelez International will post 2.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $0.22 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.88 annualized dividend and a yield of 2.23%. Mondelez International’s payout ratio is 41.12%.
Mondelez International declared that its board has initiated a stock repurchase plan on Wednesday, January 31st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Trian Fund Management, L.P. bought 1,028,600 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average price of $44.27 per share, for a total transaction of $45,536,122.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hubert Weber sold 10,931 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $43.79, for a total transaction of $478,668.49. Following the completion of the transaction, the executive vice president now owns 160,865 shares in the company, valued at approximately $7,044,278.35. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
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; 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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