Coho Partners Ltd. Sells 130,843 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Coho Partners Ltd. reduced its stake in Mondelez International by 15.3%, selling 130,843 shares in the second quarter, leaving them with 724,232 shares, which represents 3.6% of their portfolio.
• Several hedge funds increased their holdings in Mondelez International, with Price T Rowe Associates raising its stake by 90.1% and now owning over 29 million shares, valued at nearly $2 billion.
• Mondelez International announced an increase in its quarterly dividend from $0.47 to $0.50, resulting in an annualized dividend of $2.00 with a yield of 3.2%.

Coho Partners Ltd. trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 724,232 shares of the company's stock after selling 130,843 shares during the quarter. Mondelez International accounts for 3.6% of Coho Partners Ltd.'s portfolio, making the stock its 11th largest holding. Coho Partners Ltd. owned approximately 0.06% of Mondelez International worth $48,842,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Mondelez International by 90.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company's stock valued at $1,968,811,000 after purchasing an additional 13,755,181 shares during the period. Nuveen LLC bought a new stake in shares of Mondelez International in the first quarter valued at about $866,843,000. Invesco Ltd. lifted its stake in shares of Mondelez International by 1.1% in the first quarter. Invesco Ltd. now owns 12,547,186 shares of the company's stock valued at $851,327,000 after buying an additional 137,604 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Mondelez International by 57.6% in the first quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company's stock valued at $640,964,000 after buying an additional 3,454,174 shares during the period. Finally, Bahl & Gaynor Inc. lifted its stake in shares of Mondelez International by 1.5% in the first quarter. Bahl & Gaynor Inc. now owns 6,147,235 shares of the company's stock valued at $417,090,000 after buying an additional 89,362 shares during the period. 78.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

MDLZ has been the subject of several research reports. Barclays raised their target price on Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wells Fargo & Company reduced their target price on Mondelez International from $78.00 to $74.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Mondelez International in a report on Tuesday. Evercore ISI reduced their price objective on shares of Mondelez International from $73.00 to $72.00 and set an "outperform" rating for the company in a report on Friday, September 26th. Finally, UBS Group reduced their price objective on shares of Mondelez International from $69.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Mondelez International presently has an average rating of "Moderate Buy" and an average target price of $70.89.

Mondelez International Trading Down 0.1%

Shares of MDLZ opened at $61.60 on Friday. The stock has a fifty day moving average price of $62.21 and a two-hundred day moving average price of $65.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $72.35. The company has a market cap of $79.71 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 5.51 and a beta of 0.45.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 earnings per share (EPS) for the quarter. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%.The business had revenue of $7.30 billion during the quarter. Analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th were paid a $0.50 dividend. 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 dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Mondelez International's payout ratio is presently 73.26%.

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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