Royal Bank of Canada Acquires 261,644 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Royal Bank of Canada has increased its stake in Mondelez International by 5.7%, holding 4,853,746 shares valued at approximately $329 million.
• Mondelez International's latest earnings showed a 7.7% year-over-year revenue growth, reporting $8.98 billion and beating analyst expectations of $8.82 billion.
• The company recently declared a quarterly dividend of $0.50 per share, representing a 3.3% yield, up from the previous dividend of $0.47.

Royal Bank of Canada boosted its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,853,746 shares of the company's stock after acquiring an additional 261,644 shares during the quarter. Royal Bank of Canada owned 0.37% of Mondelez International worth $329,326,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Graham Capital Management L.P. acquired a new position in shares of Mondelez International during the 1st quarter valued at $1,251,000. Retirement Planning Co of New England Inc. acquired a new position in shares of Mondelez International during the 1st quarter valued at $213,000. Saudi Central Bank acquired a new position in shares of Mondelez International during the 1st quarter valued at $36,000. DRW Securities LLC increased its position in shares of Mondelez International by 392.9% during the 1st quarter. DRW Securities LLC now owns 17,985 shares of the company's stock valued at $1,220,000 after purchasing an additional 14,336 shares during the period. Finally, Twin Tree Management LP increased its position in shares of Mondelez International by 630.6% during the 1st quarter. Twin Tree Management LP now owns 239,706 shares of the company's stock valued at $16,264,000 after purchasing an additional 206,895 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Down 0.8%

Shares of Mondelez International stock traded down $0.49 during midday trading on Wednesday, hitting $61.30. The company's stock had a trading volume of 10,566,617 shares, compared to its average volume of 6,648,016. The firm has a market capitalization of $79.32 billion, a P/E ratio of 22.45, a PEG ratio of 4.65 and a beta of 0.44. The stock has a 50-day simple moving average of $65.42 and a 200-day simple moving average of $65.88. 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, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. The firm had revenue of $8.98 billion during 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 for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 30th. Mondelez International's dividend payout ratio is 68.86%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MDLZ shares. Stifel Nicolaus lifted their price target on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein lifted their price target on Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. UBS Group lowered their price target on Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $68.00 to $78.00 in a research note on Friday, June 20th. Finally, Barclays raised their price objective on Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mondelez International presently has an average rating of "Moderate Buy" and an average target price of $72.00.

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.