Mirae Asset Global Investments Co. Ltd. Increases Position in Mondelez International, Inc. $MDLZ

Key Points

• Mirae Asset Global Investments has increased its stake in Mondelez International by 7.5%, now holding 450,597 shares valued at approximately $30.4 million.
• Mondelez recently declared a quarterly dividend increase from $0.47 to $0.50 per share, reflecting a 3.2% dividend yield.
• The company's quarterly earnings exceeded estimates with a reported $0.73 EPS against a consensus of $0.68, alongside a revenue increase of 7.7% year-over-year.

Mirae Asset Global Investments Co. Ltd. raised its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,597 shares of the company's stock after purchasing an additional 31,533 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Mondelez International were worth $30,388,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in Mondelez International in the first quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in Mondelez International in the first quarter valued at approximately $26,000. 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 during the last quarter. North Capital Inc. purchased a new position in Mondelez International in the first quarter valued at approximately $31,000. Finally, Saudi Central Bank purchased a new position in Mondelez International in the first quarter valued at approximately $36,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $62.67 on Friday. 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 stock has a fifty day moving average price of $62.78 and a 200 day moving average price of $65.55. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $72.70. The company has a market cap of $81.09 billion, a PE ratio of 22.96, a P/E/G ratio of 4.67 and a beta of 0.45.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.05. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%.The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period last year, the company earned $0.86 earnings per share. The company's revenue for the quarter was up 7.7% on a year-over-year basis. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. Sell-side 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. Investors of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This is a boost from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Mondelez International's dividend payout ratio is 73.26%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MDLZ shares. UBS Group dropped their price target on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price objective on Mondelez International from $78.00 to $74.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Sanford C. Bernstein increased 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. Stifel Nicolaus increased their price objective on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Evercore ISI decreased their price objective on Mondelez International from $73.00 to $72.00 and set an "outperform" rating for the company in a report on Friday, September 26th. Fourteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $71.80.

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.

Want to see what other hedge funds are holding MDLZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mondelez International, Inc. (NASDAQ:MDLZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.