Banque Pictet & Cie SA Sells 21,650 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Banque Pictet & Cie SA reduced its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,967 shares of the company's stock after selling 21,650 shares during the quarter. Banque Pictet & Cie SA's holdings in Mondelez International were worth $6,647,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Axxcess Wealth Management LLC increased its stake in Mondelez International by 13.0% in the first quarter. Axxcess Wealth Management LLC now owns 48,368 shares of the company's stock valued at $3,282,000 after acquiring an additional 5,551 shares during the period. Cornerstone Planning Group LLC increased its stake in Mondelez International by 70.3% in the first quarter. Cornerstone Planning Group LLC now owns 884 shares of the company's stock valued at $60,000 after acquiring an additional 365 shares during the period. CORDA Investment Management LLC. boosted its position in Mondelez International by 1.5% in the first quarter. CORDA Investment Management LLC. now owns 573,612 shares of the company's stock valued at $38,920,000 after buying an additional 8,456 shares in the last quarter. Graver Capital Management LLC acquired a new position in Mondelez International in the first quarter valued at about $225,000. Finally, Personal CFO Solutions LLC boosted its position in Mondelez International by 10.0% in the first quarter. Personal CFO Solutions LLC now owns 6,563 shares of the company's stock valued at $445,000 after buying an additional 599 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ traded down $0.07 during mid-day trading on Friday, reaching $67.09. 3,490,578 shares of the company were exchanged, compared to its average volume of 8,088,996. The company's 50-day simple moving average is $67.00 and its 200-day simple moving average is $64.20. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $86.86 billion, a P/E ratio of 24.91, a P/E/G ratio of 5.18 and a beta of 0.48. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Mondelez International had a net margin of 9.90% and a return on equity of 15.94%. The business had revenue of $9.31 billion for the quarter, compared to analyst estimates of $9.37 billion. During the same period last year, the firm earned $0.93 earnings per share. Mondelez International's revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, June 30th. Mondelez International's dividend payout ratio is currently 69.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDLZ. Evercore ISI upped their target price on shares of Mondelez International from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Barclays increased their price objective on shares of Mondelez International from $71.00 to $74.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $68.00 to $78.00 in a report on Friday, June 20th. Stifel Nicolaus upped their target price on shares of Mondelez International from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, UBS Group upped their target price on shares of Mondelez International from $60.00 to $69.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.63.

About Mondelez International

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.