Deutsche Bank AG Trims Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Deutsche Bank AG sold 1,132,079 shares of Mondelez International, reducing its stake by 8.2% to 12,602,001 shares, amounting to approximately $855 million.
• Institutions now hold 78.32% of Mondelez International's shares, with several firms increasing their positions during the first quarter.
• Mondelez International recently declared a quarterly dividend of $0.50, raising its annual yield to 3.2% from the previous $0.47 per share.

Deutsche Bank AG reduced its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,602,001 shares of the company's stock after selling 1,132,079 shares during the period. Deutsche Bank AG owned about 0.97% of Mondelez International worth $855,046,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its holdings in Mondelez International by 15.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company's stock valued at $527,000 after purchasing an additional 1,013 shares in the last quarter. Canopy Partners LLC lifted its holdings in Mondelez International by 20.7% during the first quarter. Canopy Partners LLC now owns 16,800 shares of the company's stock valued at $1,140,000 after purchasing an additional 2,876 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Mondelez International by 23.6% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44,786 shares of the company's stock valued at $3,039,000 after purchasing an additional 8,544 shares in the last quarter. TCW Group Inc. boosted its stake in shares of Mondelez International by 1.1% in the first quarter. TCW Group Inc. now owns 98,444 shares of the company's stock worth $6,679,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Mondelez International by 58.2% in the first quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock worth $738,000 after acquiring an additional 4,002 shares during the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Down 0.9%

Shares of Mondelez International stock traded down $0.57 during trading hours on Friday, hitting $61.83. The company had a trading volume of 6,419,737 shares, compared to its average volume of 8,121,417. The company's 50-day moving average is $67.28 and its two-hundred day moving average is $65.41. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.39. The company has a market cap of $80.06 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 4.72 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. Mondelez International's revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid 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 dividend yield of 3.2%. Mondelez International's dividend payout ratio is currently 68.86%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MDLZ shares. Jefferies Financial Group raised Mondelez International from a "hold" rating to a "buy" rating and lifted their price target for the stock from $66.00 to $78.00 in a research note on Thursday, July 17th. Barclays raised their price target on shares of Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. Morgan Stanley raised their price target on shares of Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $69.00 price target on shares of Mondelez International in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.95.

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.