Burgundy Asset Management Ltd. Has $200.80 Million Position in Mondelez International, Inc. (NASDAQ:MDLZ)

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. lowered its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,959,532 shares of the company's stock after selling 343,653 shares during the quarter. Mondelez International makes up 2.1% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 9th biggest position. Burgundy Asset Management Ltd. owned 0.23% of Mondelez International worth $200,804,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest & Ethical Investments L.P. grew its position in shares of Mondelez International by 38.8% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 119,245 shares of the company's stock worth $8,091,000 after buying an additional 33,309 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Mondelez International by 0.8% in the 1st quarter. Raymond James Financial Inc. now owns 4,333,025 shares of the company's stock worth $293,996,000 after buying an additional 33,141 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its position in shares of Mondelez International by 61.7% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 7,679 shares of the company's stock worth $521,000 after buying an additional 2,931 shares during the last quarter. Weik Capital Management grew its position in shares of Mondelez International by 2.2% in the 1st quarter. Weik Capital Management now owns 20,170 shares of the company's stock worth $1,369,000 after buying an additional 435 shares during the last quarter. Finally, American Investment Services Inc. grew its position in shares of Mondelez International by 0.5% in the 1st quarter. American Investment Services Inc. now owns 39,474 shares of the company's stock worth $2,678,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Stock Performance

MDLZ opened at $62.08 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.39. The firm has a fifty day moving average price of $66.78 and a 200 day moving average price of $65.63. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The stock has a market cap of $80.33 billion, a P/E ratio of 22.74, a P/E/G ratio of 4.69 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business posted $0.86 EPS. The business's revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The business also recently disclosed 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. This is a boost from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Mondelez International's dividend payout ratio (DPR) is currently 73.26%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Dbs Bank raised shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 1st. Wells Fargo & Company raised shares of Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $78.00 in a research report on Thursday, July 17th. Barclays boosted their target price on shares of Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley boosted their target price on shares of Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.95.

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.

Want to see what other hedge funds are holding MDLZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mondelez International, Inc. (NASDAQ:MDLZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.