Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co reduced its stake in Mondelez International by 9.0% during the first quarter, now holding approximately 4.1 million shares valued at $279 million.
• Mondelez International's quarterly earnings surpassed expectations with $0.73 EPS, beating the consensus estimate of $0.68, and reported a revenue increase of 7.7% year-over-year.
• The company is set to increase its quarterly dividend to $0.50 per share, reflecting an annualized dividend of $2.00 and a yield of 3.2%.

Fayez Sarofim & Co reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,114,063 shares of the company's stock after selling 405,632 shares during the period. Fayez Sarofim & Co owned 0.32% of Mondelez International worth $279,139,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Abound Financial LLC bought a new position in shares of Mondelez International during the first quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Mondelez International during the first quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Mondelez International by 376.1% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after buying an additional 346 shares during the period. North Capital Inc. bought a new position in Mondelez International in the 1st quarter worth approximately $31,000. Finally, Orion Capital Management LLC bought a new position in Mondelez International in the 4th quarter worth approximately $30,000. 78.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MDLZ has been the subject of a number of recent analyst reports. Dbs Bank raised Mondelez International from a "hold" rating to a "moderate buy" rating in a report on Friday, August 1st. Piper Sandler increased their price objective on Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Stifel Nicolaus increased their price objective on Mondelez International from $73.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. DA Davidson lowered Mondelez International from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $66.00 to $68.00 in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Mondelez International presently has an average rating of "Moderate Buy" and an average price target of $71.95.

Mondelez International Price Performance

MDLZ traded down $0.57 during trading on Friday, reaching $61.83. The stock had a trading volume of 6,419,737 shares, compared to its average volume of 8,121,417. The firm has a market capitalization of $80.06 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 4.72 and a beta of 0.46. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 0.69. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The stock has a 50 day moving average of $67.28 and a two-hundred day moving average of $65.41.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. The company 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. The company's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders 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 is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Mondelez International's payout ratio is currently 68.86%.

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.