Mondelez International, Inc. $MDLZ Shares Sold by Burgundy Asset Management Ltd.

Key Points

• Burgundy Asset Management Ltd. has reduced its stake in Mondelez International by 10.4%, now holding approximately $200.80 million worth of stock, making it the firm's 9th largest position.
• Mondelez International recently posted earnings of $0.73 per share, beating estimates and showing a 7.7% increase in revenue year-over-year, while also planning a dividend increase to $0.50 per share.
• Analysts have upgraded Mondelez's stock ratings, with multiple firms raising their target price, reflecting a strong consensus toward the company's future performance.

Burgundy Asset Management Ltd. decreased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,959,532 shares of the company's stock after selling 343,653 shares during the quarter. Mondelez International accounts for approximately 2.1% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 9th largest position. Burgundy Asset Management Ltd. owned 0.23% of Mondelez International worth $200,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in shares of Mondelez International by 13.9% in the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock worth $2,241,637,000 after acquiring an additional 4,572,555 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Mondelez International by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock worth $1,198,491,000 after acquiring an additional 975,929 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Mondelez International by 6.8% in the fourth quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock worth $970,786,000 after acquiring an additional 1,035,184 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Mondelez International by 17.1% in the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock worth $820,337,000 after acquiring an additional 2,002,640 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Mondelez International in the first quarter worth about $866,843,000. Institutional investors own 78.32% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on MDLZ. Wells Fargo & Company raised shares of Mondelez International from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $68.00 to $78.00 in a report on Friday, June 20th. Barclays upped their price objective on Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Dbs Bank raised Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Morgan Stanley upped their price objective on Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. started coverage on Mondelez International in a research note on Wednesday. They issued an "overweight" rating and a $75.00 price objective for the company. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Mondelez International Trading Up 0.4%

NASDAQ:MDLZ traded up $0.2270 on Friday, reaching $63.1670. 2,956,265 shares of the stock traded hands, compared to its average volume of 8,919,751. The firm has a market capitalization of $81.73 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 4.77 and a beta of 0.46. The company's 50 day moving average is $66.41 and its 200-day moving average is $65.70. 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, 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 released its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. Equities research analysts anticipate that Mondelez International, Inc. will post 2.9 EPS 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 3.2%. This is a boost from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is currently 68.86%.

Mondelez International 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.