Allspring Global Investments Holdings LLC Buys 333,578 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Mondelez International by 24%, owning 1,723,105 shares after acquiring an additional 333,578 shares, valued at approximately $118.8 million.
• Mondelez announced a quarterly dividend of $0.50 per share, which represents an increase from the previous $0.47 dividend, translating to an annual yield of 3.3%.
• Analysts have a consensus rating of "Moderate Buy" for Mondelez International, with a target price of $71.55, as the stock is currently rated by 14 investment analysts with Buy ratings.

Allspring Global Investments Holdings LLC raised its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 24.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,723,105 shares of the company's stock after purchasing an additional 333,578 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of Mondelez International worth $118,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Abound Financial LLC bought a new stake in shares of Mondelez International in the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Mondelez International in the 1st quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Mondelez International by 376.1% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after acquiring an additional 346 shares during the last quarter. North Capital Inc. bought a new stake in shares of Mondelez International in the 1st quarter worth approximately $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Mondelez International in the 2nd quarter worth approximately $33,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Trading Down 0.5%

NASDAQ:MDLZ opened at $61.17 on Tuesday. The company has a fifty day moving average of $62.24 and a 200 day moving average of $65.39. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $72.70. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $79.15 billion, a P/E ratio of 22.41, a P/E/G ratio of 4.65 and a beta of 0.45.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 EPS for the quarter. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company had revenue of $7.30 billion during the quarter. On average, research analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is presently 73.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDLZ shares. Wells Fargo & Company lowered their price objective on shares of Mondelez International from $78.00 to $74.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Mondelez International in a report on Saturday, September 27th. Morgan Stanley lowered their price objective on shares of Mondelez International from $73.00 to $71.00 and set an "overweight" rating for the company in a report on Monday, October 6th. Berenberg Bank lowered shares of Mondelez International from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a report on Thursday, October 2nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Mondelez International currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.55.

Mondelez International Company 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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