Torch Wealth Management LLC continued to hold its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,840 shares of the company’s stock at the end of the second quarter. Torch Wealth Management LLC’s holdings in Mondelez International were worth $209,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Mondelez International by 2.9% in the first quarter. Vanguard Group Inc. now owns 97,631,640 shares of the company’s stock worth $4,205,971,000 after buying an additional 2,720,253 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Mondelez International by 7.2% in the first quarter. Geode Capital Management LLC now owns 15,445,600 shares of the company’s stock worth $664,480,000 after buying an additional 1,041,124 shares in the last quarter. Lindsell Train Ltd increased its stake in shares of Mondelez International by 23.3% in the first quarter. Lindsell Train Ltd now owns 14,507,710 shares of the company’s stock worth $624,992,000 after buying an additional 2,740,400 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Mondelez International by 32.3% in the first quarter. Canada Pension Plan Investment Board now owns 12,509,846 shares of the company’s stock worth $538,924,000 after buying an additional 3,056,900 shares in the last quarter. Finally, Parnassus Investments CA increased its stake in shares of Mondelez International by 9.8% in the first quarter. Parnassus Investments CA now owns 11,466,220 shares of the company’s stock worth $478,548,000 after buying an additional 1,020,219 shares in the last quarter. Institutional investors own 76.54% of the company’s stock.
Shares of Mondelez International, Inc. (MDLZ) traded down 1.08% during midday trading on Friday, reaching $42.94. The company had a trading volume of 6,760,998 shares. The company has a market capitalization of $64.74 billion, a P/E ratio of 37.77 and a beta of 1.19. Mondelez International, Inc. has a 52 week low of $40.50 and a 52 week high of $47.23. The company’s 50 day moving average price is $43.61 and its 200-day moving average price is $44.43.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.98 billion. During the same quarter in the prior year, the business earned $0.44 EPS. Mondelez International’s revenue was down 5.0% on a year-over-year basis. On average, equities research analysts predict that Mondelez International, Inc. will post $2.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $0.22 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from Mondelez International’s previous quarterly dividend of $0.19. Mondelez International’s dividend payout ratio is presently 66.67%.
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A number of analysts have weighed in on MDLZ shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $54.00 target price on shares of Mondelez International in a research note on Monday, May 22nd. BidaskClub lowered Mondelez International from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Mondelez International in a research note on Wednesday, August 2nd. UBS AG reiterated a “buy” rating and issued a $51.00 target price on shares of Mondelez International in a research note on Thursday, August 3rd. Finally, Morgan Stanley increased their target price on Mondelez International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $50.33.
In other news, EVP Maurizio Brusadelli sold 6,248 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total value of $273,412.48. Following the transaction, the executive vice president now owns 61,651 shares in the company, valued at approximately $2,697,847.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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