Corton Capital Inc. Buys Shares of 4,295 Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Corton Capital Inc. has acquired 4,295 shares of Mondelez International, Inc., valued at approximately $291,000, making it the fund's 21st largest position with 1.0% of its investment portfolio.
• Mondelez International's recent quarterly earnings exceeded expectations, reporting $0.74 earnings per share against a consensus estimate of $0.67, despite revenue slightly missing estimates at $9.31 billion.
• Analysts have a positive outlook on Mondelez International, with a consensus rating of "Moderate Buy" and an average price target of $70.72, following several upgrades by major brokerages.

Corton Capital Inc. bought a new stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,295 shares of the company's stock, valued at approximately $291,000. Mondelez International accounts for 1.0% of Corton Capital Inc.'s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDLZ. Capital Research Global Investors lifted its stake in shares of Mondelez International by 13.9% in the 4th quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock worth $2,241,637,000 after acquiring an additional 4,572,555 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Mondelez International in the 1st quarter worth approximately $189,930,000. Deutsche Bank AG lifted its stake in shares of Mondelez International by 17.1% in the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock worth $820,337,000 after acquiring an additional 2,002,640 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Mondelez International in the 4th quarter worth approximately $104,065,000. Finally, Invesco Ltd. lifted its stake in shares of Mondelez International by 13.6% in the 4th quarter. Invesco Ltd. now owns 12,409,582 shares of the company's stock worth $741,224,000 after acquiring an additional 1,483,270 shares during the period. 78.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDLZ. Morgan Stanley upped their price target on shares of Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $69.00 target price on shares of Mondelez International in a research note on Monday, April 28th. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and increased their target price for the company from $66.00 to $78.00 in a research note on Thursday, July 17th. Barclays increased their target price on shares of Mondelez International from $71.00 to $74.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Mondelez International from $64.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Mondelez International has an average rating of "Moderate Buy" and an average price target of $70.72.

Mondelez International Stock Up 0.6%

Shares of NASDAQ:MDLZ opened at $70.58 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.40 and a current ratio of 0.61. The company has a market cap of $91.39 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 5.31 and a beta of 0.48. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06. The firm has a 50 day simple moving average of $67.64 and a 200 day simple moving average of $64.97.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter, compared to analyst estimates of $9.37 billion. Mondelez International had a net margin of 9.90% and a return on equity of 15.94%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. As a group, research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 annualized dividend and a yield of 2.66%. Mondelez International's dividend payout ratio is presently 69.89%.

Mondelez International Profile

Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.

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