Mondelez International, Inc. $MDLZ Shares Sold by Guinness Asset Management LTD

Key Points

• Guinness Asset Management LTD reduced its stake in Mondelez International by 2.6%, now holding approximately 2.98 million shares worth $202.5 million, making it the 14th largest position in its portfolio.
• Mondelez International reported Q2 earnings of $0.73 per share, surpassing analyst estimates of $0.68, with revenues reaching $8.98 billion, reflecting a 7.7% year-over-year increase.
• The company recently announced an increase in its quarterly dividend to $0.50 per share, up from $0.47, representing an annual yield of 3.2% and a payout ratio of 68.86%.

Guinness Asset Management LTD reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,985,453 shares of the company's stock after selling 79,958 shares during the quarter. Mondelez International accounts for approximately 3.9% of Guinness Asset Management LTD's portfolio, making the stock its 14th largest holding. Guinness Asset Management LTD owned 0.23% of Mondelez International worth $202,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its position in shares of Mondelez International by 11.4% in the first quarter. Hemington Wealth Management now owns 1,519 shares of the company's stock valued at $103,000 after purchasing an additional 156 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Mondelez International by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 15,959 shares of the company's stock valued at $1,083,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Mondelez International by 11.1% during the first quarter. Sound Income Strategies LLC now owns 1,688 shares of the company's stock valued at $115,000 after buying an additional 168 shares during the period. Sage Private Wealth Group LLC lifted its stake in shares of Mondelez International by 3.7% during the first quarter. Sage Private Wealth Group LLC now owns 4,921 shares of the company's stock valued at $334,000 after buying an additional 175 shares during the period. Finally, Verus Financial Partners Inc. lifted its stake in shares of Mondelez International by 3.7% during the first quarter. Verus Financial Partners Inc. now owns 5,067 shares of the company's stock valued at $340,000 after buying an additional 179 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MDLZ shares. Piper Sandler increased their price target on shares of Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and increased their price target for the stock from $66.00 to $78.00 in a research note on Thursday, July 17th. Dbs Bank raised shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. started coverage on shares of Mondelez International in a research note on Wednesday, August 20th. They set an "overweight" rating and a $75.00 price target on the stock. Finally, Sanford C. Bernstein increased their price target on shares of Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.00.

Mondelez International Trading Down 0.6%

Shares of MDLZ stock traded down $0.38 during mid-day trading on Monday, reaching $61.60. The company's stock had a trading volume of 6,723,810 shares, compared to its average volume of 8,747,441. The company's 50 day simple moving average is $64.50 and its 200-day simple moving average is $65.85. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $75.98. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $79.71 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 4.69 and a beta of 0.44.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released 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. The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The business's revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. On average, research analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company 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 represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's dividend payout ratio (DPR) is 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.