IQ EQ FUND MANAGEMENT IRELAND Ltd Has $8.74 Million Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has reduced its position in Mondelez International by 6.5%, currently holding 128,866 shares worth approximately $8.74 million, making it the 19th largest position in their investment portfolio.
• Mondelez International's recent earnings report showed an EPS of $0.73, exceeding expectations, with a revenue increase of 7.7% year-over-year.
• The company has declared an increase in its quarterly dividend to $0.50, reflecting a 3.1% yield, to be paid on October 14th, 2023.

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,866 shares of the company's stock after selling 8,957 shares during the period. Mondelez International makes up about 1.0% of IQ EQ FUND MANAGEMENT IRELAND Ltd's investment portfolio, making the stock its 19th biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Mondelez International were worth $8,744,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MDLZ. Abound Financial LLC bought a new stake in Mondelez International in the first quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in Mondelez International in the first quarter valued at approximately $26,000. Transce3nd LLC bought a new stake in Mondelez International in the fourth quarter valued at approximately $30,000. Orion Capital Management LLC bought a new stake in Mondelez International in the fourth quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Mondelez International by 376.1% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock valued at $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.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Sanford C. Bernstein upped their target price on shares of Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised shares of Mondelez International from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. Stifel Nicolaus increased their price objective on shares of Mondelez International from $73.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. DA Davidson downgraded shares of 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 research report on Thursday, April 24th. Finally, Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and increased their price objective for the stock from $66.00 to $78.00 in a research report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.95.

Mondelez International Stock Performance

Shares of MDLZ opened at $63.93 on Monday. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The firm has a fifty day simple moving average of $67.73 and a 200 day simple moving average of $65.35. The stock has a market capitalization of $82.78 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 4.84 and a beta of 0.46. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, topping 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 business had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $8.82 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Research analysts forecast 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 will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a $0.50 dividend. This is an increase from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 30th. Mondelez International's dividend payout ratio is 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.

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