Cary Street Partners Financial LLC Trims Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Cary Street Partners Financial LLC reduced its stake in Mondelez International by 24.2%, now owning 13,680 shares valued at approximately $928,000.
• Mondelez International recently reported earnings of $0.73 per share, exceeding analysts' estimates, with quarterly revenue increasing by 7.7% year-over-year.
• The company announced a quarterly dividend of $0.50, marking an increase from the previous dividend of $0.47, with a dividend yield of 3.2%.

Cary Street Partners Financial LLC decreased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,680 shares of the company's stock after selling 4,360 shares during the quarter. Cary Street Partners Financial LLC's holdings in Mondelez International were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in shares of Mondelez International by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 15,959 shares of the company's stock worth $1,083,000 after buying an additional 160 shares during the last quarter. Glass Jacobson Investment Advisors llc grew its position in Mondelez International by 6.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,681 shares of the company's stock worth $160,000 after acquiring an additional 168 shares during the period. Sound Income Strategies LLC increased its stake in Mondelez International by 11.1% during the first quarter. Sound Income Strategies LLC now owns 1,688 shares of the company's stock worth $115,000 after acquiring an additional 168 shares during the last quarter. Sage Private Wealth Group LLC increased its stake in Mondelez International by 3.7% during the first quarter. Sage Private Wealth Group LLC now owns 4,921 shares of the company's stock worth $334,000 after acquiring an additional 175 shares during the last quarter. Finally, Verus Financial Partners Inc. raised its position in Mondelez International by 3.7% in the first quarter. Verus Financial Partners Inc. now owns 5,067 shares of the company's stock valued at $340,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 78.32% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Stifel Nicolaus upped their target price on shares of Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $69.00 price target on shares of Mondelez International in a research report on Monday, April 28th. DA Davidson downgraded shares of Mondelez International from a "buy" rating to a "neutral" rating and boosted their price target for the company from $66.00 to $68.00 in a research note on Thursday, April 24th. Finally, Sanford C. Bernstein upped their price objective on shares of 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, five have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $71.95.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $62.40 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 company has a market cap of $80.80 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 4.69 and a beta of 0.46. The stock's 50-day moving average is $67.39 and its two-hundred day moving average is $65.38. 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 announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, topping 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 return on equity of 15.35% and a net margin of 9.84%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 30th. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's dividend payout ratio (DPR) is 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.

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