Prio Wealth Limited Partnership Lowers Position in Mondelez International Inc (NASDAQ:MDLZ)
Prio Wealth Limited Partnership cut its stake in Mondelez International Inc (NASDAQ:MDLZ) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 584,448 shares of the company’s stock after selling 3,233 shares during the period. Mondelez International accounts for approximately 1.4% of Prio Wealth Limited Partnership’s portfolio, making the stock its 24th largest position. Prio Wealth Limited Partnership’s holdings in Mondelez International were worth $31,501,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Northstar Asset Management LLC increased its stake in shares of Mondelez International by 0.5% during the second quarter. Northstar Asset Management LLC now owns 36,966 shares of the company’s stock valued at $1,992,000 after purchasing an additional 200 shares in the last quarter. Cornerstone Advisors Inc. increased its position in shares of Mondelez International by 2.4% during the first quarter. Cornerstone Advisors Inc. now owns 8,850 shares of the company’s stock valued at $442,000 after acquiring an additional 207 shares in the last quarter. Rockland Trust Co. increased its position in shares of Mondelez International by 3.5% during the second quarter. Rockland Trust Co. now owns 6,151 shares of the company’s stock valued at $332,000 after acquiring an additional 209 shares in the last quarter. Smithfield Trust Co. increased its position in shares of Mondelez International by 1.5% during the first quarter. Smithfield Trust Co. now owns 14,496 shares of the company’s stock valued at $723,000 after acquiring an additional 221 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its position in shares of Mondelez International by 3.2% during the second quarter. Patten & Patten Inc. TN now owns 7,501 shares of the company’s stock valued at $404,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 75.96% of the company’s stock.
Several equities research analysts recently weighed in on MDLZ shares. Stifel Nicolaus raised their price target on shares of Mondelez International from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, June 17th. UBS Group reaffirmed a “buy” rating and issued a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Monday, April 15th. Evercore ISI started coverage on shares of Mondelez International in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $62.00 target price for the company. BidaskClub downgraded shares of Retrophin from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. Finally, Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $52.80.
NASDAQ:MDLZ traded up $0.13 during trading hours on Tuesday, reaching $54.99. The company had a trading volume of 163,253 shares, compared to its average volume of 4,550,599. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.33 and a current ratio of 0.48. Mondelez International Inc has a 52 week low of $38.78 and a 52 week high of $55.85. The stock has a market cap of $79.02 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.87 and a beta of 0.83. The company’s 50 day simple moving average is $54.83.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The business had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Mondelez International had a net margin of 12.66% and a return on equity of 14.17%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. On average, equities research analysts predict that Mondelez International Inc will post 2.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, June 27th. Mondelez International’s dividend payout ratio is presently 42.80%.
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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