Advisors Asset Management Inc. Sells 38,787 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Advisors Asset Management Inc. has reduced its holdings in Mondelez International by 35.7%, selling 38,787 shares, leaving them with 69,757 shares worth approximately $4.73 million.
• Mondelez International reported a quarterly earnings per share of $0.73, exceeding estimates, and had a revenue of $8.98 billion, up 7.7% from the previous year.
• The company declared a quarterly dividend of $0.50 per share, which is an increase from the prior dividend of $0.47, giving an annualized yield of 3.3%.

Advisors Asset Management Inc. reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,757 shares of the company's stock after selling 38,787 shares during the quarter. Advisors Asset Management Inc.'s holdings in Mondelez International were worth $4,733,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AlTi Global Inc. grew its stake in Mondelez International by 5.0% during the 1st quarter. AlTi Global Inc. now owns 42,644 shares of the company's stock worth $2,912,000 after buying an additional 2,049 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Mondelez International in the first quarter worth $38,511,000. American Trust Investment Advisors LLC grew its stake in shares of Mondelez International by 0.8% in the first quarter. American Trust Investment Advisors LLC now owns 66,004 shares of the company's stock worth $4,478,000 after purchasing an additional 516 shares in the last quarter. Aprio Wealth Management LLC bought a new position in shares of Mondelez International in the first quarter worth $284,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Mondelez International by 48.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,476,597 shares of the company's stock worth $100,187,000 after purchasing an additional 478,700 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MDLZ shares. JPMorgan Chase & Co. started coverage on Mondelez International in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $75.00 price target for the company. Sanford C. Bernstein increased their price target on Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. UBS Group cut their price objective on Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Jefferies Financial Group upgraded Mondelez International from a "hold" rating to a "buy" rating and upped their price objective for the company from $66.00 to $78.00 in a report on Thursday, July 17th. Finally, Dbs Bank upgraded Mondelez International from a "hold" rating to a "moderate buy" rating in a report on Friday, August 1st. Fourteen 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Mondelez International Stock Up 1.0%

Mondelez International stock traded up $0.63 during mid-day trading on Tuesday, hitting $62.57. The company's stock had a trading volume of 5,752,039 shares, compared to its average volume of 8,807,518. The firm's 50 day moving average is $65.05 and its 200 day moving average is $65.91. The company has a market cap of $80.96 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 4.67 and a beta of 0.44. 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, Inc. has a 52-week low of $53.95 and a 52-week high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.86 EPS. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. On average, analysts anticipate 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. Investors of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is presently 68.86%.

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.