Gulf International Bank UK Ltd Sells 29,477 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Mondelez International, Inc. by 27.7%, selling 29,477 shares and leaving it with 77,031 shares valued at approximately $5.2 million.
• Mondelez International has announced a quarterly dividend of $0.50 per share, an increase from the previous $0.47, with a payout ratio of 68.86% and a yield of 3.3%.
• Barclays and Piper Sandler raised their price targets for Mondelez, with Barclays setting it at $77.00 and Piper Sandler at $67.00, reflecting a generally positive outlook among analysts.

Gulf International Bank UK Ltd reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,031 shares of the company's stock after selling 29,477 shares during the quarter. Gulf International Bank UK Ltd's holdings in Mondelez International were worth $5,226,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MDLZ. Abound Financial LLC purchased a new stake in shares of Mondelez International during the 1st quarter worth about $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Mondelez International during the 1st quarter worth about $26,000. Transce3nd LLC purchased a new stake in shares of Mondelez International during the 4th quarter worth about $30,000. Orion Capital Management LLC purchased a new stake in shares of Mondelez International during the 4th quarter worth about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Mondelez International by 376.1% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after purchasing an additional 346 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of MDLZ stock traded up $0.62 during mid-day trading on Friday, reaching $62.08. The stock had a trading volume of 5,848,442 shares, compared to its average volume of 8,589,398. The firm's 50 day simple moving average is $66.78 and its 200 day simple moving average is $65.63. 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 one year low of $53.95 and a one year high of $76.06. The firm has a market cap of $80.33 billion, a PE ratio of 22.74, a P/E/G ratio of 4.69 and a beta of 0.46.

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, topping 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 last year, the company earned $0.86 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The business 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 is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Mondelez International's dividend payout ratio is 73.26%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDLZ. Evercore ISI increased their price objective on Mondelez International from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Dbs Bank raised Mondelez International from a "hold" rating to a "moderate buy" rating in a report on Friday, August 1st. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $68.00 to $78.00 in a report on Friday, June 20th. Jefferies Financial Group raised Mondelez International from a "hold" rating to a "buy" rating and increased their price objective for the company from $66.00 to $78.00 in a report on Thursday, July 17th. Finally, Stifel Nicolaus increased their price objective on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Mondelez International currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.95.

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.