Covea Finance Raises Holdings in Mondelez International, Inc. $MDLZ

Key Points

• Covea Finance increased its holdings in Mondelez International by 10.4% in Q2, owning a total of 182,420 shares worth approximately $12.3 million.
• Mondelez International reported a net revenue increase of 7.7% year-over-year, with earnings per share of $0.73 exceeding estimates by $0.05.
• The company announced a dividend increase to $0.50 per share, representing an annualized yield of 3.1% and a payout ratio of 68.86%.

Covea Finance boosted its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 182,420 shares of the company's stock after acquiring an additional 17,200 shares during the period. Covea Finance's holdings in Mondelez International were worth $12,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted 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 worth $1,968,811,000 after buying an additional 13,755,181 shares in the last quarter. Nuveen LLC bought a new position in Mondelez International in the 1st quarter worth about $866,843,000. Invesco Ltd. grew its position in Mondelez International by 1.1% in the 1st quarter. Invesco Ltd. now owns 12,547,186 shares of the company's stock worth $851,327,000 after purchasing an additional 137,604 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Mondelez International by 57.6% in the 1st 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. Finally, Bahl & Gaynor Inc. lifted its stake in shares of Mondelez International by 1.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 6,147,235 shares of the company's stock worth $417,090,000 after acquiring an additional 89,362 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Trading Down 0.3%

Shares of Mondelez International stock opened at $63.50 on Tuesday. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $75.11. The stock's 50-day simple moving average is $63.94 and its 200 day simple moving average is $65.72. The stock has a market capitalization of $82.17 billion, a P/E ratio of 23.26, a P/E/G ratio of 4.82 and a beta of 0.44. 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 announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%.The firm had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $8.82 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company's 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. As a group, research analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The business 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 an increase 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 is presently 68.86%.

Analyst Ratings Changes

Several analysts recently commented on MDLZ shares. Stifel Nicolaus increased their target price on shares of Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Piper Sandler raised their target price on shares of Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Sanford C. Bernstein increased their price target on shares of Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and lifted their price target for the company from $66.00 to $78.00 in a report on Thursday, July 17th. Finally, Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.00.

About Mondelez International

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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