TD Asset Management Inc. Sells 104,850 Shares of Mondelez International Inc (NASDAQ:MDLZ)

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TD Asset Management Inc. lessened its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 891,460 shares of the company’s stock after selling 104,850 shares during the period. TD Asset Management Inc. owned 0.06% of Mondelez International worth $48,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its position in Mondelez International by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,560 shares of the company’s stock worth $246,000 after purchasing an additional 187 shares during the period. Northstar Asset Management LLC raised its position in Mondelez International by 0.5% in the 2nd quarter. Northstar Asset Management LLC now owns 36,966 shares of the company’s stock worth $1,992,000 after purchasing an additional 200 shares during the period. Cornerstone Advisors Inc. raised its position in Mondelez International by 2.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 8,850 shares of the company’s stock worth $442,000 after purchasing an additional 207 shares during the period. Rockland Trust Co. raised its position in Mondelez International by 3.5% in the 2nd quarter. Rockland Trust Co. now owns 6,151 shares of the company’s stock worth $332,000 after purchasing an additional 209 shares during the period. Finally, JNBA Financial Advisors raised its position in Mondelez International by 66.0% in the 2nd quarter. JNBA Financial Advisors now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 210 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on MDLZ. Stifel Nicolaus upped their target price on shares of Mondelez International from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Credit Suisse Group upped their target price on shares of Mondelez International from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $62.00 target price on shares of Mondelez International and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Citigroup set a $60.00 target price on shares of Mondelez International and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, ValuEngine downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Mondelez International has an average rating of “Buy” and a consensus target price of $57.50.

In other Mondelez International news, EVP Maurizio Brusadelli sold 39,882 shares of the firm’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 completion of the transaction, the executive vice president now owns 85,388 shares of the company’s stock, valued at $4,655,353.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.

MDLZ traded up $0.12 during trading on Thursday, hitting $53.32. The stock had a trading volume of 1,226,442 shares, compared to its average volume of 6,227,778. The stock has a market cap of $78.24 billion, a P/E ratio of 21.94, a PEG ratio of 2.84 and a beta of 0.82. Mondelez International Inc has a twelve month low of $38.78 and a twelve month high of $55.85. The company has a quick ratio of 0.29, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $54.55.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a $0.285 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from Mondelez International’s previous quarterly dividend of $0.26. Mondelez International’s dividend payout ratio (DPR) is currently 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.

Further Reading: Roth IRA

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

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