Cigna Investments Inc. New grew its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 6.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,391 shares of the company’s stock after buying an additional 2,500 shares during the period. Cigna Investments Inc. New’s holdings in Mondelez International were worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Ltd. lifted its holdings in shares of Mondelez International by 1.1% in the 4th quarter. Pictet Asset Management Ltd. now owns 1,492,058 shares of the company’s stock valued at $82,183,000 after purchasing an additional 15,551 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Mondelez International by 33.8% in the 4th quarter. Capital Research Global Investors now owns 384,000 shares of the company’s stock valued at $21,151,000 after purchasing an additional 97,000 shares during the last quarter. Bluefin Trading LLC purchased a new stake in shares of Mondelez International in the 4th quarter valued at about $3,053,000. Highland Capital Management LLC lifted its holdings in shares of Mondelez International by 0.8% in the 4th quarter. Highland Capital Management LLC now owns 150,867 shares of the company’s stock valued at $8,310,000 after purchasing an additional 1,265 shares during the last quarter. Finally, Sailer Financial LLC purchased a new stake in shares of Mondelez International in the 4th quarter valued at about $74,000. 77.98% of the stock is owned by institutional investors.
Several analysts have recently weighed in on MDLZ shares. Wells Fargo & Co boosted their target price on Mondelez International from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Berenberg Bank reissued a “hold” rating on shares of Mondelez International in a report on Thursday, February 6th. Buckingham Research boosted their target price on Mondelez International from $62.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Stifel Nicolaus upgraded Mondelez International from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Monday, March 30th. Finally, Piper Sandler dropped their price target on Mondelez International from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $61.00.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, April 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Mondelez International had a return on equity of 13.73% and a net margin of 14.24%. The company had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that Mondelez International Inc will post 2.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, June 29th. Mondelez International’s payout ratio is 46.15%.
In other news, Director Charles E. Bunch purchased 2,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $50.32 per share, with a total value of $100,640.00. Insiders own 1.30% of the company’s stock.
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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