AlphaCore Capital LLC Invests $523,000 in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• AlphaCore Capital LLC has acquired a new position in Mondelez International, buying 7,660 shares valued at approximately $523,000 in the first quarter.
• Mondelez International recently declared a quarterly dividend of $0.50 per share, reflecting an increase from the previous dividend of $0.47, with a dividend yield of 3.2%.
• Analysts have a positive outlook on Mondelez International, with upgrades from several firms raising price targets, forecasting strong stock performance with an average price target of $71.95.

AlphaCore Capital LLC acquired a new stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 7,660 shares of the company's stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hemington Wealth Management increased its holdings in Mondelez International by 11.4% in the first quarter. Hemington Wealth Management now owns 1,519 shares of the company's stock valued at $103,000 after buying an additional 156 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Mondelez International by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 15,959 shares of the company's stock worth $1,083,000 after purchasing an additional 160 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its stake in shares of Mondelez International by 6.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,681 shares of the company's stock worth $160,000 after purchasing an additional 168 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Mondelez International by 11.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,688 shares of the company's stock worth $115,000 after purchasing an additional 168 shares in the last quarter. Finally, Sage Private Wealth Group LLC increased its stake in shares of Mondelez International by 3.7% during the 1st quarter. Sage Private Wealth Group LLC now owns 4,921 shares of the company's stock worth $334,000 after purchasing an additional 175 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Stock Performance

Shares of MDLZ stock traded down $0.17 on Tuesday, hitting $61.39. The company's stock had a trading volume of 7,373,323 shares, compared to its average volume of 8,531,562. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. The stock's 50 day moving average is $67.16 and its 200-day moving average is $65.56. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The company has a market capitalization of $79.43 billion, a PE ratio of 22.49, a PEG ratio of 4.65 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $8.82 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. This is a boost from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is currently 68.86%.

Analyst Ratings Changes

Several analysts have commented on MDLZ shares. Dbs Bank raised shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Barclays boosted their price objective on shares of Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. UBS Group lowered their price objective on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Piper Sandler boosted their price objective on shares of Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $78.00 in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.95.

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.