Mondelez International, Inc. $MDLZ Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its holdings in Mondelez International by 15.3% during the second quarter, now owning 96,104 shares valued at approximately $6.48 million.
• Analysts are divided on the stock with ratings ranging from Buy to Hold, and a consensus price target of $71.80.
• Mondelez recently announced a quarterly dividend increase to $0.50 per share, reflecting an annual yield of 3.2%, up from the previous $0.47.

QRG Capital Management Inc. boosted its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,104 shares of the company's stock after buying an additional 12,759 shares during the period. QRG Capital Management Inc.'s holdings in Mondelez International were worth $6,481,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Mondelez International by 90.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company's stock valued at $1,968,811,000 after purchasing an additional 13,755,181 shares in the last quarter. Nuveen LLC acquired a new position in shares of Mondelez International in the 1st quarter valued at about $866,843,000. Invesco Ltd. lifted its stake in shares of Mondelez International by 1.1% in the 1st quarter. Invesco Ltd. now owns 12,547,186 shares of the company's stock valued at $851,327,000 after purchasing an additional 137,604 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Mondelez International by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company's stock valued at $640,964,000 after purchasing an additional 3,454,174 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in shares of Mondelez International by 1.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 6,147,235 shares of the company's stock valued at $417,090,000 after purchasing an additional 89,362 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDLZ. Berenberg Bank lowered Mondelez International from a "buy" rating to a "hold" rating and set a $70.00 price objective on the stock. in a research note on Thursday. Jefferies Financial Group upgraded Mondelez International from a "hold" rating to a "buy" rating and raised their target price for the company from $66.00 to $78.00 in a report on Thursday, July 17th. UBS Group dropped their target price on 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 raised their target price 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 raised their target price on Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.80.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $62.67 on Monday. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $72.70. 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 capitalization of $81.09 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 4.74 and a beta of 0.45. The business has a 50 day simple moving average of $62.78 and a 200-day simple moving average of $65.57.

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, beating analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%.The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the business earned $0.86 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a 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 73.26%.

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.

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.