Middleton & Co. Inc. MA Sells 4,830 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Middleton & Co. Inc. MA reduced its holdings in Mondelez International by 3.7%, owning 125,817 shares worth approximately $8.54 million after selling 4,830 shares.
• Mondelez International reported quarterly earnings of $0.73 per share, surpassing the consensus estimate of $0.68, along with a revenue of $8.98 billion for the period.
• The company has declared a quarterly dividend of $0.50 that will be paid on October 14th, representing a 3.1% yield and an increase from the previous dividend of $0.47.

Middleton & Co. Inc. MA lessened its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,817 shares of the company's stock after selling 4,830 shares during the quarter. Middleton & Co. Inc. MA's holdings in Mondelez International were worth $8,537,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kingswood Wealth Advisors LLC grew its position in Mondelez International by 15.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company's stock worth $527,000 after buying an additional 1,013 shares during the last quarter. Canopy Partners LLC grew its position in Mondelez International by 20.7% during the 1st quarter. Canopy Partners LLC now owns 16,800 shares of the company's stock worth $1,140,000 after purchasing an additional 2,876 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Mondelez International by 23.6% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44,786 shares of the company's stock worth $3,039,000 after purchasing an additional 8,544 shares in the last quarter. TCW Group Inc. grew its position in Mondelez International by 1.1% during the 1st quarter. TCW Group Inc. now owns 98,444 shares of the company's stock worth $6,679,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Mondelez International by 58.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock valued at $738,000 after buying an additional 4,002 shares during the period. Institutional investors and hedge funds own 78.32% of the company's stock.

Mondelez International Price Performance

Shares of MDLZ stock traded down $0.23 during trading hours on Wednesday, reaching $62.07. 7,727,906 shares of the company were exchanged, compared to its average volume of 8,372,521. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The stock's fifty day moving average is $67.58 and its two-hundred day moving average is $65.37. The company has a market cap of $80.37 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 4.71 and a beta of 0.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.39.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its earnings results 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. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the business earned $0.86 earnings per share. Mondelez International's quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MDLZ shares. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and lifted their target price for the company from $66.00 to $78.00 in a research note on Thursday, July 17th. UBS Group dropped their target price on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus boosted their price objective on shares of Mondelez International from $73.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $78.00 in a report on Friday, June 20th. Finally, Piper Sandler upped their target price on shares of Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. One 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.