Kornitzer Capital Management Inc. KS cut its holdings in Mondelez International Inc (NASDAQ:MDLZ) by 68.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,542 shares of the company’s stock after selling 130,047 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Mondelez International were worth $3,263,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Ibex Wealth Advisors bought a new position in shares of Mondelez International during the second quarter worth $26,000. Brand Asset Management Group Inc. boosted its position in shares of Mondelez International by 1,367.6% during the second quarter. Brand Asset Management Group Inc. now owns 499 shares of the company’s stock worth $27,000 after purchasing an additional 465 shares in the last quarter. JNBA Financial Advisors boosted its position in shares of Mondelez International by 66.0% during the second quarter. JNBA Financial Advisors now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 210 shares in the last quarter. Manchester Financial Inc. bought a new position in shares of Mondelez International during the second quarter worth $30,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Mondelez International during the second quarter worth $35,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.
MDLZ opened at $54.18 on Friday. The stock has a market capitalization of $78.70 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.86 and a beta of 0.82. Mondelez International Inc has a 12 month low of $38.78 and a 12 month high of $55.85. The firm’s fifty day simple moving average is $54.53 and its 200 day simple moving average is $51.25. The company has a current ratio of 0.44, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Mondelez International had a net margin of 14.57% and a return on equity of 14.07%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities research analysts predict that Mondelez International Inc will post 2.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be given a $0.285 dividend. This is a boost from Mondelez International’s previous quarterly dividend of $0.26. This represents a $1.14 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, September 27th. Mondelez International’s payout ratio is currently 42.80%.
In related news, EVP Maurizio Brusadelli sold 39,882 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $54.52, for a total value of $2,174,366.64. Following the sale, the executive vice president now directly owns 85,388 shares of the company’s stock, valued at approximately $4,655,353.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.
A number of equities analysts have recently weighed in on MDLZ shares. Stifel Nicolaus lifted their price target on shares of Mondelez International from $52.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Citigroup set a $60.00 price target on shares of Mondelez International and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Credit Suisse Group lifted their price target on shares of Mondelez International from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley raised shares of Mondelez International from an “equal weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research report on Wednesday, August 7th. Finally, UBS Group set a $62.00 price target on shares of Mondelez International and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $57.50.
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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