LGT Group Foundation Purchases 333,863 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• The LGT Group Foundation increased its stake in Mondelez International, Inc. by 106.2%, now holding 648,208 shares valued at approximately $43.98 million.
• Mondelez reported $0.73 EPS for the last quarter, exceeding analysts' expectations of $0.68, and a revenue of $8.98 billion, up 7.7% from the previous year.
• The company also announced a quarterly dividend of $0.50 per share, reflecting an increase from the previous dividend and resulting in a 3.2% yield.

LGT Group Foundation boosted its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 106.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,208 shares of the company's stock after purchasing an additional 333,863 shares during the period. LGT Group Foundation owned approximately 0.05% of Mondelez International worth $43,981,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MDLZ. Capital Research Global Investors lifted its stake in shares of Mondelez International by 13.9% in the 4th quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock worth $2,241,637,000 after acquiring an additional 4,572,555 shares during the period. Ameriprise Financial Inc. grew its holdings in Mondelez International by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock valued at $1,198,491,000 after purchasing an additional 975,929 shares during the period. Northern Trust Corp grew its stake in Mondelez International by 6.8% during the fourth quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock worth $970,786,000 after buying an additional 1,035,184 shares during the period. Deutsche Bank AG boosted its stake 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 valued at $820,337,000 after purchasing an additional 2,002,640 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Mondelez International in the first quarter valued at $866,843,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDLZ. DA Davidson cut 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 report on Thursday, April 24th. UBS Group reduced their price target on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Morgan Stanley raised their price objective on shares of Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Stifel Nicolaus increased their price target on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Barclays lifted their price target on shares of Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.95.

Mondelez International Stock Performance

Shares of MDLZ traded up $0.62 during midday trading on Friday, reaching $62.08. 5,848,442 shares of the stock were exchanged, compared to its average volume of 8,589,398. The company has a market cap of $80.33 billion, a P/E ratio of 22.74, a PEG ratio of 4.64 and a beta of 0.46. The stock's 50 day simple moving average is $66.78 and its 200 day simple moving average is $65.57. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. 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 (NASDAQ:MDLZ - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.73 EPS 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 firm's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. On average, sell-side analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Mondelez International's payout ratio is presently 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.