King Luther Capital Management Corp Sells 275,187 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• King Luther Capital Management Corp significantly reduced its stake in Mondelez International by 45.5%, owning 329,205 shares worth approximately $22.34 million after selling 275,187 shares in the first quarter.
• Mondelez International recently declared a quarterly dividend increase, raising it from $0.47 to $0.50 per share, with an annualized yield of 3.2%.
• The company's latest quarterly earnings report showed an EPS of $0.73, beating estimates, along with a revenue of $8.98 billion, up 7.7% from the previous year.

King Luther Capital Management Corp cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 45.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,205 shares of the company's stock after selling 275,187 shares during the period. King Luther Capital Management Corp's holdings in Mondelez International were worth $22,337,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Abound Financial LLC bought a new position in shares of Mondelez International in the first quarter valued at approximately $25,000. Goodman Advisory Group LLC acquired a new position in Mondelez International during the 1st quarter worth $26,000. Transce3nd LLC bought a new stake in Mondelez International during the fourth quarter valued at about $30,000. Orion Capital Management LLC acquired a new stake in shares of Mondelez International in the fourth quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in shares of 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 worth $30,000 after purchasing an additional 346 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Down 1.2%

MDLZ stock traded down $0.73 during trading hours on Thursday, reaching $61.46. 5,695,443 shares of the stock were exchanged, compared to its average volume of 9,058,310. 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 $79.53 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 4.64 and a beta of 0.46. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The firm's 50-day moving average is $66.96 and its 200-day moving average is $65.51.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. The company had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $8.82 billion. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. On average, equities research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. 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. Mondelez International's dividend payout ratio (DPR) is presently 73.26%.

Wall Street Analyst Weigh In

MDLZ has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Barclays raised their target price on Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Sanford C. Bernstein lifted their price objective on Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. Finally, Evercore ISI raised their price target on Mondelez International from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus 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.