Pearl River Capital LLC increased its stake in Mondelez International Inc (NASDAQ:MDLZ) by 76.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,977 shares of the company’s stock after purchasing an additional 5,200 shares during the period. Pearl River Capital LLC’s holdings in Mondelez International were worth $612,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Ledyard National Bank raised its position in shares of Mondelez International by 1.6% in the 2nd quarter. Ledyard National Bank now owns 11,600 shares of the company’s stock worth $593,000 after acquiring an additional 184 shares in the last quarter. Everett Harris & Co. CA raised its position in shares of Mondelez International by 2.3% in the 2nd quarter. Everett Harris & Co. CA now owns 8,735 shares of the company’s stock worth $447,000 after acquiring an additional 193 shares in the last quarter. Brookstone Capital Management raised its position in shares of Mondelez International by 2.6% in the 2nd quarter. Brookstone Capital Management now owns 7,833 shares of the company’s stock worth $400,000 after acquiring an additional 197 shares in the last quarter. D.B. Root & Company LLC raised its position in shares of Mondelez International by 1.2% in the 1st quarter. D.B. Root & Company LLC now owns 16,594 shares of the company’s stock worth $831,000 after acquiring an additional 198 shares in the last quarter. Finally, American Investment Services Inc. raised its position in shares of Mondelez International by 0.5% in the 1st quarter. American Investment Services Inc. now owns 42,346 shares of the company’s stock worth $2,121,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.
NASDAQ MDLZ traded up $0.31 during trading on Thursday, reaching $57.07. 281,698 shares of the company’s stock were exchanged, compared to its average volume of 5,603,734. The stock has a market cap of $81.80 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.36 and a current ratio of 0.55. The company has a 50 day moving average price of $53.86 and a two-hundred day moving average price of $52.88. Mondelez International Inc has a 1 year low of $41.19 and a 1 year high of $59.96.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.07. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.92 billion. Mondelez International had a return on equity of 14.02% and a net margin of 13.31%. Mondelez International’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Research analysts forecast that Mondelez International Inc will post 2.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.21%. This is an increase from Mondelez International’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, September 29th. Mondelez International’s payout ratio is 46.15%.
In other news, Director Trian Fund Management, L.P. sold 1,160,827 shares of Mondelez International stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $55.56, for a total transaction of $64,495,548.12. Following the sale, the director now owns 12,727 shares in the company, valued at $707,112.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter W. May sold 482,778 shares of Mondelez International stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $55.61, for a total value of $26,847,284.58. Following the sale, the director now owns 12,727 shares in the company, valued at approximately $707,748.47. The disclosure for this sale can be found here. Insiders have sold a total of 2,876,741 shares of company stock valued at $160,211,881 over the last ninety days. 1.30% of the stock is owned by company insiders.
MDLZ has been the topic of several recent analyst reports. Piper Sandler upped their target price on Mondelez International from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Mondelez International from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Seaport Global Securities initiated coverage on Mondelez International in a research report on Tuesday, July 28th. They set a “buy” rating and a $61.00 target price on the stock. Guggenheim upped their target price on Mondelez International from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley increased their price objective on Mondelez International from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $62.24.
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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