Confluence Investment Management LLC Sells 78,347 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Confluence Investment Management reduced its Mondelez stake by 3.8%, selling 78,347 shares in the third quarter. It still held 1.97 million shares worth approximately $113.7 million, representing 1.7% of its portfolio.
• Analysts maintain a generally positive view of Mondelez, with a consensus rating of “Moderate Buy” and an average price target of $67.05. Recent targets range from $70 to $73.
• Mondelez beat quarterly earnings and revenue estimates, reporting $0.73 in adjusted EPS and $9.36 billion in revenue. The company also raised its quarterly dividend to $0.52 per share, implying a 3.6% annual yield.

Confluence Investment Management LLC trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,965,985 shares of the company's stock after selling 78,347 shares during the period. Mondelez International makes up 1.7% of Confluence Investment Management LLC's portfolio, making the stock its 12th biggest position. Confluence Investment Management LLC owned 0.15% of Mondelez International worth $113,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in Mondelez International by 10.1% in the first quarter. First Trust Advisors LP now owns 1,131,640 shares of the company's stock worth $65,228,000 after purchasing an additional 103,778 shares in the last quarter. Ethic Inc. increased its holdings in shares of Mondelez International by 21.5% in the 2nd quarter. Ethic Inc. now owns 235,350 shares of the company's stock valued at $13,613,000 after acquiring an additional 41,601 shares during the last quarter. Amundi raised its position in shares of Mondelez International by 18.0% during the 1st quarter. Amundi now owns 3,243,030 shares of the company's stock valued at $186,928,000 after acquiring an additional 494,996 shares in the last quarter. KBC Group NV raised its position in shares of Mondelez International by 53.2% during the 1st quarter. KBC Group NV now owns 577,970 shares of the company's stock valued at $33,314,000 after acquiring an additional 200,769 shares in the last quarter. Finally, Tobam lifted its stake in Mondelez International by 56.6% during the fourth quarter. Tobam now owns 96,846 shares of the company's stock worth $5,213,000 after purchasing an additional 35,011 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Freedom Capital lowered shares of Mondelez International from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. TD Cowen raised their price target on shares of Mondelez International from $67.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Jefferies Financial Group reaffirmed a "buy" rating and set a $73.00 price objective on shares of Mondelez International in a research report on Wednesday, July 29th. BNP Paribas Exane increased their price objective on shares of Mondelez International from $68.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Mondelez International from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.05.

Mondelez International Stock Performance

MDLZ stock traded down $0.01 during mid-day trading on Thursday, reaching $57.81. The company had a trading volume of 2,742,188 shares, compared to its average volume of 9,298,358. The company has a quick ratio of 0.40, a current ratio of 0.60 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $73.79 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.32 and a beta of 0.39. Mondelez International, Inc. has a one year low of $51.20 and a one year high of $66.65. The stock's 50-day simple moving average is $62.03 and its two-hundred day simple moving average is $60.52.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05. Mondelez International had a net margin of 8.86% and a return on equity of 14.07%. The business had revenue of $9.36 billion during the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. Mondelez International has set its FY 2026 guidance at 2.970-3.120 EPS. Research analysts anticipate that Mondelez International, Inc. will post 3.05 EPS for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be given a $0.52 dividend. This is a positive change from Mondelez International's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, September 30th. This represents a $2.08 annualized dividend and a yield of 3.6%. Mondelez International's payout ratio is currently 73.53%.

Insider Buying and Selling

In other Mondelez International news, CEO Dirk Van de Put sold 133,580 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $64.08, for a total value of $8,559,806.40. Following the sale, the chief executive officer owned 1,326,488 shares in the company, valued at approximately $85,001,351.04. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.45% of the company's stock.

Mondelez International Company Profile

Mondelez International, Inc is a global food and beverage company focused primarily on snacks. Its portfolio includes biscuits, cookies, crackers, chocolate, baked snacks, gum and candy. Well-known brands include Oreo, Ritz, Chips Ahoy!, belVita, LU, Cadbury, Milka, Toblerone, Sour Patch Kids and Trident.

The company sells its products in countries around the world through grocery stores, convenience outlets, e-commerce channels and other retail and food-service locations. Its operations are organized around major geographic markets, including North America, Latin America, Europe and emerging markets across Asia, the Middle East and Africa.

Mondelez was created in 2012 when Kraft Foods separated its global snack-food business from its North American grocery operations.

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