Kovitz Investment Group Partners LLC Buys 73,718 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Mondelez International by 116.1%, holding 137,231 shares valued at approximately $9.31 million as of the latest reporting period.
• Mondelez International recently declared a quarterly dividend of $0.50 per share, marking an increase from the previous $0.47 dividend, with a current annualized yield of 3.2%.
• The company reported a quarterly earnings per share of $0.73, surpassing analysts' expectations, with a revenue of $8.98 billion, up 7.7% from the previous year.

Kovitz Investment Group Partners LLC raised its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 116.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,231 shares of the company's stock after purchasing an additional 73,718 shares during the period. Kovitz Investment Group Partners LLC's holdings in Mondelez International were worth $9,311,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDLZ. Nuveen LLC purchased a new stake in Mondelez International during the first quarter valued at about $866,843,000. Capital Research Global Investors increased its holdings in shares of Mondelez International by 13.9% in the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock worth $2,241,637,000 after buying an additional 4,572,555 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Mondelez International by 57.6% in the first quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company's stock worth $640,964,000 after buying an additional 3,454,174 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Mondelez International in the first quarter worth about $189,930,000. Finally, Deutsche Bank AG increased its holdings in shares of Mondelez International by 17.1% in the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock worth $820,337,000 after buying an additional 2,002,640 shares during the period. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Stock Down 0.4%

Mondelez International stock traded down $0.24 during trading hours on Monday, hitting $61.84. 5,063,898 shares of the stock traded hands, compared to its average volume of 8,361,275. The firm's 50-day moving average price is $66.68 and its two-hundred day moving average price is $65.70. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69. The company has a market cap of $80.02 billion, a PE ratio of 22.65, a PEG ratio of 4.69 and a beta of 0.46. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. The business 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. On average, research analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is presently 68.86%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MDLZ shares. Piper Sandler lifted 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. Dbs Bank raised Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Evercore ISI raised their target price on Mondelez International from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. UBS Group cut their target price on Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Finally, Morgan Stanley raised their target price on Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.95.

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.