First Citizens Bank & Trust Co. Trims Stake in Mondelez International, Inc. $MDLZ

Key Points

• First Citizens Bank & Trust Co. reduced its stake in Mondelez International by 72.0% during the 2nd quarter, resulting in ownership of 18,032 shares worth approximately $1.2 million.
• Mondelez International recently declared a quarterly dividend of $0.50, increasing its annualized dividend to $2.00, which offers a 3.3% dividend yield.
• Analysts have mixed views on Mondelez's stock, with 12 Buy ratings, 7 Hold ratings, and 1 Sell rating, positioning the stock with a consensus rating of "Moderate Buy."

First Citizens Bank & Trust Co. reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 72.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,032 shares of the company's stock after selling 46,307 shares during the period. First Citizens Bank & Trust Co.'s holdings in Mondelez International were worth $1,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canopy Partners LLC raised its stake in Mondelez International by 20.7% during the 1st quarter. Canopy Partners LLC now owns 16,800 shares of the company's stock valued at $1,140,000 after acquiring an additional 2,876 shares during the last quarter. TCW Group Inc. raised its stake in Mondelez International by 1.1% during the 1st quarter. TCW Group Inc. now owns 98,444 shares of the company's stock valued at $6,679,000 after acquiring an additional 1,075 shares during the last quarter. CORDA Investment Management LLC. raised its stake in Mondelez International by 1.5% during the 1st quarter. CORDA Investment Management LLC. now owns 573,612 shares of the company's stock valued at $38,920,000 after acquiring an additional 8,456 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in Mondelez International during the 1st quarter valued at approximately $392,000. Finally, Golden State Equity Partners purchased a new stake in Mondelez International during the 1st quarter valued at approximately $316,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Dbs Bank raised Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Morgan Stanley dropped their target price on Mondelez International from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Monday, October 6th. Jefferies Financial Group upgraded Mondelez International from a "hold" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $78.00 in a research report on Thursday, July 17th. Berenberg Bank cut Mondelez International from a "buy" rating to a "hold" rating and set a $70.00 target price on the stock. in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Mondelez International from $75.00 to $74.00 and set an "overweight" rating on the stock in a research report on Friday, October 17th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.22.

Mondelez International Stock Performance

MDLZ opened at $60.77 on Friday. The stock has a market cap of $78.63 billion, a P/E ratio of 22.26, a P/E/G ratio of 5.46 and a beta of 0.45. 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 stock's 50 day simple moving average is $62.22 and its 200 day simple moving average is $65.11. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $71.15.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 earnings per share for the quarter. The business had revenue of $7.30 billion for the quarter. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were issued a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is currently 73.26%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.