Hartford Financial Management Inc. Increases Stake in Mondelez International Inc (NASDAQ:MDLZ)

Hartford Financial Management Inc. increased its holdings in shares of Mondelez International Inc (NASDAQ:MDLZ) by 0.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 50,360 shares of the company’s stock after buying an additional 396 shares during the period. Hartford Financial Management Inc.’s holdings in Mondelez International were worth $2,714,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Ibex Wealth Advisors bought a new position in Mondelez International during the second quarter valued at approximately $26,000. Brand Asset Management Group Inc. lifted its position in Mondelez International by 1,367.6% during the second quarter. Brand Asset Management Group Inc. now owns 499 shares of the company’s stock valued at $27,000 after purchasing an additional 465 shares during the period. JNBA Financial Advisors lifted its position in Mondelez International by 66.0% during the second quarter. JNBA Financial Advisors now owns 528 shares of the company’s stock valued at $28,000 after purchasing an additional 210 shares during the period. Manchester Financial Inc. bought a new position in Mondelez International during the second quarter valued at approximately $30,000. Finally, Gemmer Asset Management LLC lifted its position in Mondelez International by 101.4% during the first quarter. Gemmer Asset Management LLC now owns 709 shares of the company’s stock valued at $35,000 after purchasing an additional 357 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of MDLZ stock opened at $54.57 on Wednesday. Mondelez International Inc has a 12 month low of $38.78 and a 12 month high of $55.85. The stock has a market capitalization of $78.87 billion, a PE ratio of 22.46, a P/E/G ratio of 2.86 and a beta of 0.82. The company has a current ratio of 0.44, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47. The firm’s 50 day simple moving average is $54.59.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, July 30th. The company reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. Mondelez International had a net margin of 14.57% and a return on equity of 14.07%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Mondelez International Inc will post 2.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.285 per share. This is a boost from Mondelez International’s previous quarterly dividend of $0.26. This represents a $1.14 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, September 27th. Mondelez International’s dividend payout ratio is currently 42.80%.

A number of research analysts recently weighed in on MDLZ shares. UBS Group set a $62.00 price objective on shares of Mondelez International and gave the company a “buy” rating in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Evercore ISI started coverage on shares of Mondelez International in a research report on Tuesday, June 11th. They set an “outperform” rating and a $62.00 price objective on the stock. Morgan Stanley upgraded shares of Mondelez International from an “equal weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research report on Wednesday, August 7th. Finally, Buckingham Research increased their price objective on shares of Mondelez International from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.50.

In other news, EVP Maurizio Brusadelli sold 39,882 shares of the 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 completion of the sale, the executive vice president now directly owns 85,388 shares of the company’s stock, valued at $4,655,353.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.

Further Reading: What is the Ex-Dividend Date in Investing?

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Institutional Ownership by Quarter for Mondelez International (NASDAQ:MDLZ)

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