Commerce Bank Trims Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Commerce Bank reduced its stake in Mondelez International by 58.4%, holding approximately 0.05% of the company worth $47.8 million after selling nearly 1 million shares.
• Analysts have given Mondelez International a consensus rating of "Moderate Buy", with a price target averaging $71.95, reflecting growth expectations.
• Mondelez International will increase its quarterly dividend from $0.47 to $0.50, resulting in an annual yield of 3.1% for shareholders of record.

Commerce Bank reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 58.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 704,567 shares of the company's stock after selling 990,450 shares during the period. Commerce Bank owned approximately 0.05% of Mondelez International worth $47,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in shares of Mondelez International during the first quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Mondelez International during the first quarter worth approximately $26,000. Transce3nd LLC acquired a new position in Mondelez International in the fourth quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new position in Mondelez International in the fourth quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in Mondelez International by 376.1% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock valued at $30,000 after purchasing an additional 346 shares in the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDLZ. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $68.00 to $78.00 in a report on Friday, June 20th. Piper Sandler increased their price objective on Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a report on Wednesday. Stifel Nicolaus increased their price objective on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group decreased their price objective on Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Evercore ISI increased their price objective on Mondelez International from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.95.

Mondelez International Trading Down 0.6%

NASDAQ:MDLZ opened at $64.69 on Friday. The stock has a fifty day moving average price of $67.77 and a two-hundred day moving average price of $65.20. The stock has a market capitalization of $83.76 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.40 and a current ratio of 0.64. 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 quarterly earnings data on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $8.82 billion. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. Mondelez International's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The firm 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 $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a yield of 3.1%. Mondelez International's dividend payout ratio (DPR) is currently 73.26%.

Mondelez International Company 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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