Lazard Asset Management LLC boosted its position in shares of Mondelez International Inc (NASDAQ:MDLZ) by 1,184.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,449,117 shares of the company’s stock after purchasing an additional 2,258,403 shares during the period. Lazard Asset Management LLC’s holdings in Mondelez International were worth $122,259,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MDLZ. Norges Bank acquired a new stake in Mondelez International during the fourth quarter worth about $657,626,000. Boston Partners acquired a new stake in shares of Mondelez International in the 1st quarter valued at approximately $355,441,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Mondelez International by 3,854.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,387,067 shares of the company’s stock valued at $160,000 after purchasing an additional 6,225,539 shares in the last quarter. Hillhouse Capital Advisors Ltd. acquired a new stake in shares of Mondelez International in the 4th quarter valued at approximately $141,276,000. Finally, Sound Shore Management Inc. CT acquired a new stake in shares of Mondelez International in the 4th quarter valued at approximately $141,109,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.
NASDAQ MDLZ traded down $0.08 during trading hours on Thursday, reaching $54.47. The company’s stock had a trading volume of 86,258 shares, compared to its average volume of 6,430,183. The firm has a market cap of $77.77 billion, a PE ratio of 22.38, a price-to-earnings-growth 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 $54.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.48 and a quick ratio of 0.33.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.55 billion. Mondelez International had a net margin of 12.66% and a return on equity of 14.17%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. As a group, research analysts anticipate that Mondelez International Inc will post 2.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.91%. Mondelez International’s dividend payout ratio (DPR) is presently 42.80%.
In related news, EVP Gerhard W. Pleuhs sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $51.57, for a total value of $2,062,800.00. Following the completion of the transaction, the executive vice president now owns 110,308 shares in the company, valued at approximately $5,688,583.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by company insiders.
A number of research firms have recently weighed in on MDLZ. Evercore ISI began coverage on shares of Mondelez International in a research note on Tuesday. They issued an “outperform” rating and a $62.00 price target on the stock. Credit Suisse Group raised their price target on shares of Mondelez International from $50.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded shares of Mondelez International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. UBS Group raised their price target on shares of Mondelez International to $56.00 and gave the company a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies set a $48.00 price target on shares of Mondelez International and gave the company a “buy” rating in a research note on Friday, April 5th. One research 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.90.
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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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