Bank of Nova Scotia Has $9.63 Million Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• The Bank of Nova Scotia significantly reduced its stake in Mondelez International by 89.8%, selling over 1.25 million shares and holding a total value of approximately $9.63 million as of the latest reporting period.
• Several institutional investors, including Capital Research Global Investors and Deutsche Bank AG, have increased their positions in Mondelez, highlighting strong institutional interest with 78.32% of the stock owned by these investors.
• Mondelez International announced a quarterly dividend increase to $0.50 per share, with a dividend yield of 3.1%, reflecting a commitment to returning value to shareholders.

Bank of Nova Scotia trimmed its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 89.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,948 shares of the company's stock after selling 1,252,482 shares during the quarter. Bank of Nova Scotia's holdings in Mondelez International were worth $9,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its position in shares of Mondelez International by 13.9% during the 4th quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock valued at $2,241,637,000 after acquiring an additional 4,572,555 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Mondelez International by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock valued at $1,198,491,000 after acquiring an additional 975,929 shares during the period. Northern Trust Corp lifted its position in shares of Mondelez International by 6.8% during the 4th quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock valued at $970,786,000 after acquiring an additional 1,035,184 shares during the period. Deutsche Bank AG lifted its position in shares of Mondelez International by 17.1% during the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after acquiring an additional 2,002,640 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Mondelez International by 13.6% during the 4th quarter. Invesco Ltd. now owns 12,409,582 shares of the company's stock valued at $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 Upgrades and Downgrades

A number of research firms have recently weighed in on MDLZ. Barclays upped their target price on Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. DA Davidson cut Mondelez International from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $66.00 to $68.00 in a report on Thursday, April 24th. UBS Group lowered their price target on Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Morgan Stanley boosted their price target on Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein boosted their price target on Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.95.

Mondelez International Trading Down 0.6%

NASDAQ MDLZ opened at $63.53 on Tuesday. The business's 50-day moving average price is $67.68 and its two-hundred day moving average price is $65.39. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The firm has a market capitalization of $82.26 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 4.84 and a beta of 0.46. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.82 billion. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. On average, analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current 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 annualized dividend and a dividend yield of 3.1%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's 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.

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