Mondelez International, Inc. $MDLZ Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Mondelez International by 6.2%, holding 369,985 shares valued at approximately $25.1 million after selling 24,301 shares in Q1.
• Mondelez International's recent earnings report showed an EPS of $0.73, exceeding estimates, with revenue of $8.98 billion, representing a 7.7% increase from last year.
• The company announced an increase in its quarterly dividend from $0.47 to $0.50 per share, with a yield of 3.2%, reflecting strong financial performance.

Corebridge Financial Inc. lowered its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 369,985 shares of the company's stock after selling 24,301 shares during the period. Corebridge Financial Inc.'s holdings in Mondelez International were worth $25,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDLZ. Price T Rowe Associates Inc. MD raised its position in Mondelez International by 90.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company's stock worth $1,968,811,000 after buying an additional 13,755,181 shares during the last quarter. Nuveen LLC purchased a new position in Mondelez International during the 1st quarter worth $866,843,000. Goldman Sachs Group Inc. increased its stake in shares of Mondelez International by 57.6% during the first quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company's stock worth $640,964,000 after acquiring an additional 3,454,174 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Mondelez International during the first quarter worth about $189,930,000. Finally, Deutsche Bank AG raised its holdings in Mondelez International by 17.1% during the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock worth $820,337,000 after purchasing an additional 2,002,640 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Price Performance

NASDAQ MDLZ traded up $0.16 during trading hours on Friday, reaching $61.44. The company's stock had a trading volume of 5,866,833 shares, compared to its average volume of 8,876,679. The stock has a market cap of $79.50 billion, a PE ratio of 22.51, a PEG ratio of 4.67 and a beta of 0.46. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The company's 50-day moving average is $65.95 and its two-hundred day moving average is $65.86. 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 (NASDAQ:MDLZ - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the firm earned $0.86 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. Analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. Mondelez International's dividend payout ratio is currently 73.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. UBS Group decreased their target price on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Barclays increased their price target on shares of Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Sanford C. Bernstein raised their price objective on shares of Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Piper Sandler boosted their price objective on shares of Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mondelez International currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

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.