Standard Life Aberdeen plc Raises Holdings in Mondelez International Inc (NASDAQ:MDLZ)
Standard Life Aberdeen plc increased its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,191,139 shares of the company’s stock after acquiring an additional 385,152 shares during the period. Standard Life Aberdeen plc owned about 0.28% of Mondelez International worth $179,402,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bank of Nova Scotia Trust Co. purchased a new position in Mondelez International during the 3rd quarter worth $113,000. Cerebellum GP LLC purchased a new position in Mondelez International during the 4th quarter worth $127,000. Acrospire Investment Management LLC increased its holdings in Mondelez International by 1,450.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,100 shares of the company’s stock worth $134,000 after purchasing an additional 2,900 shares during the period. Taylor Hoffman Wealth Management purchased a new position in Mondelez International during the 4th quarter worth $144,000. Finally, Rockefeller Financial Services Inc. increased its holdings in Mondelez International by 300.0% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 4,000 shares of the company’s stock worth $163,000 after purchasing an additional 3,000 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.
In other Mondelez International news, Director Trian Fund Management, L.P. bought 1,028,600 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were purchased at an average cost of $44.27 per share, for a total transaction of $45,536,122.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hubert Weber sold 10,931 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $43.79, for a total value of $478,668.49. Following the transaction, the executive vice president now owns 160,865 shares in the company, valued at $7,044,278.35. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period last year, the business posted $0.47 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. sell-side analysts anticipate that Mondelez International Inc will post 2.47 earnings per share for the current fiscal year.
Mondelez International declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 31st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.88 annualized dividend and a yield of 2.03%. Mondelez International’s dividend payout ratio (DPR) is 47.06%.
MDLZ has been the topic of several research reports. BidaskClub downgraded Mondelez International from a “sell” rating to a “strong sell” rating in a report on Friday, January 5th. Zacks Investment Research upgraded Mondelez International from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Friday, January 12th. Barclays restated a “buy” rating and set a $50.00 price objective on shares of Mondelez International in a report on Friday, February 2nd. Piper Jaffray Companies set a $50.00 price objective on Mondelez International and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Bank of America raised their price objective on Mondelez International from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.69.
TRADEMARK VIOLATION NOTICE: This story was first reported by Marea Informative and is the property of of Marea Informative. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.mareainformativa.com/2018/03/16/mondelez-international-inc-mdlz-shares-bought-by-standard-life-aberdeen-plc-updated-updated-updated-updated.html.
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.
Receive News & Ratings for Mondelez International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mondelez International and related companies with MarketBeat.com's FREE daily email newsletter.