Harvey Investment Co. LLC trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ – Get Rating) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,991 shares of the company's stock after selling 1,444 shares during the period. Harvey Investment Co. LLC's holdings in Mondelez International were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Burney Co. raised its holdings in shares of Mondelez International by 3.3% during the first quarter. Burney Co. now owns 4,813 shares of the company's stock worth $302,000 after acquiring an additional 153 shares in the last quarter. Bollard Group LLC raised its holdings in Mondelez International by 0.5% during the first quarter. Bollard Group LLC now owns 29,792 shares of the company's stock valued at $1,870,000 after buying an additional 153 shares in the last quarter. Advisor Partners LLC raised its holdings in Mondelez International by 0.3% during the first quarter. Advisor Partners LLC now owns 51,246 shares of the company's stock valued at $3,217,000 after buying an additional 161 shares in the last quarter. Carnegie Capital Asset Management LLC raised its holdings in Mondelez International by 1.4% during the first quarter. Carnegie Capital Asset Management LLC now owns 11,801 shares of the company's stock valued at $741,000 after buying an additional 163 shares in the last quarter. Finally, Wiley BROS. Aintree Capital LLC raised its holdings in Mondelez International by 5.4% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 3,199 shares of the company's stock valued at $201,000 after buying an additional 164 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.
Get Mondelez International alerts:Analysts Set New Price Targets
Several equities analysts have weighed in on the company. StockNews.com upgraded Mondelez International from a "hold" rating to a "buy" rating in a report on Wednesday, August 24th. UBS Group cut their target price on Mondelez International to $73.00 in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Mondelez International from $73.00 to $70.00 in a report on Monday, July 18th. Piper Sandler cut their target price on Mondelez International to $72.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Finally, Sanford C. Bernstein raised their price target on Mondelez International to $79.00 and gave the company an "outperform" rating in a research report on Wednesday, July 27th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $72.85.
Mondelez International Stock Performance
MDLZ stock traded up $0.07 during trading on Wednesday, reaching $57.65. 119,281 shares of the stock were exchanged, compared to its average volume of 7,032,858. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $62.47 and a 200-day simple moving average of $62.63. The company has a market capitalization of $79.01 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.60. Mondelez International, Inc. has a twelve month low of $57.31 and a twelve month high of $69.47.Mondelez International (NASDAQ:MDLZ – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.03. The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $6.81 billion. Mondelez International had a return on equity of 14.67% and a net margin of 12.93%. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, sell-side analysts anticipate that Mondelez International, Inc. will post 2.91 earnings per share for the current year.
Mondelez International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.385 dividend. This is an increase from Mondelez International's previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, September 29th. Mondelez International's payout ratio is presently 50.91%.
About Mondelez International
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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, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.
Further Reading
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