Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by Associated Banc Corp

Key Points

• Associated Banc Corp reduced its stake in Mondelez International by 0.8%, now holding 589,291 shares, worth approximately $39,983,000.
• Mondelez recently announced an increase in its quarterly dividend to $0.50, reflecting a yield of 3.1%.
• Analysts have generally favorable views on Mondelez, with a consensus rating of "Moderate Buy" and price targets averaging around $71.95.

Associated Banc Corp decreased its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 589,291 shares of the company's stock after selling 4,632 shares during the quarter. Mondelez International accounts for approximately 1.2% of Associated Banc Corp's investment portfolio, making the stock its 20th biggest holding. Associated Banc Corp's holdings in Mondelez International were worth $39,983,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Abound Financial LLC bought a new stake in shares of Mondelez International in the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new stake in Mondelez International in the first quarter worth approximately $26,000. Transce3nd LLC bought a new position in shares of Mondelez International during the 4th quarter valued at $30,000. Orion Capital Management LLC bought a new position in shares of Mondelez International during the fourth quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in 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 purchasing an additional 346 shares during the period. Institutional investors and hedge funds own 78.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Dbs Bank upgraded Mondelez International from a "hold" rating to a "moderate buy" rating in a report on Friday, August 1st. Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $68.00 to $78.00 in a research note on Friday, June 20th. Piper Sandler lifted their price objective on Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $69.00 target price on shares of Mondelez International in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.95.

Mondelez International Stock Down 0.4%

Shares of MDLZ traded down $0.23 during mid-day trading on Wednesday, hitting $62.07. 7,727,906 shares of the company traded hands, compared to its average volume of 8,372,521. The business has a 50 day moving average of $67.58 and a 200 day moving average of $65.37. The company has a market capitalization of $80.37 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 4.71 and a beta of 0.46. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 0.69. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share (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 company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the firm posted $0.86 EPS. Mondelez International's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a yield of 3.2%. Mondelez International's dividend payout ratio is 68.86%.

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.