NewEdge Advisors LLC Sells 36,746 Shares of Mondelez International, Inc. $MDLZ

Key Points

• NewEdge Advisors LLC reduced its position in Mondelez International by 21.3%, selling 36,746 shares, leaving them with 135,903 shares valued at approximately $9.22 million.
• Mondelez International reported $0.73 EPS for the recent quarter, exceeding analysts' expectations of $0.68, with revenue of $8.98 billion against an anticipated $8.82 billion.
• The company announced an increase in its quarterly dividend from $0.47 to $0.50, with an annual yield of 3.2%, payable on October 14th, 2023.

NewEdge Advisors LLC reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,903 shares of the company's stock after selling 36,746 shares during the quarter. NewEdge Advisors LLC's holdings in Mondelez International were worth $9,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nippon Life Global Investors Americas Inc. lifted its position in Mondelez International by 7.4% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 124,580 shares of the company's stock worth $8,505,000 after purchasing an additional 8,630 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mondelez International by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,042,290 shares of the company's stock worth $70,719,000 after purchasing an additional 43,312 shares during the period. Integrated Wealth Concepts LLC lifted its position in Mondelez International by 11.3% in the first quarter. Integrated Wealth Concepts LLC now owns 43,963 shares of the company's stock worth $2,983,000 after purchasing an additional 4,469 shares during the period. Investmark Advisory Group LLC bought a new position in Mondelez International in the first quarter worth $523,000. Finally, Hancock Whitney Corp lifted its position in Mondelez International by 3.5% in the first quarter. Hancock Whitney Corp now owns 6,203 shares of the company's stock worth $421,000 after purchasing an additional 208 shares during the period. 78.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDLZ. UBS Group dropped their price objective on Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. began coverage on Mondelez International in a research note on Wednesday, August 20th. They set an "overweight" rating and a $75.00 price objective for the company. Dbs Bank upgraded Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $68.00 to $78.00 in a research note on Friday, June 20th. Finally, Sanford C. Bernstein increased their price objective on Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $72.00.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ traded down $0.07 during midday trading on Friday, reaching $61.98. The company's stock had a trading volume of 4,853,461 shares, compared to its average volume of 6,212,178. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $75.98. The company has a market capitalization of $80.20 billion, a P/E ratio of 22.70, a P/E/G ratio of 4.69 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. The business's fifty day simple moving average is $64.50 and its 200-day simple moving average is $65.83.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its 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 company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the company posted $0.86 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. 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 EPS for the current fiscal year.

Mondelez International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost 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 73.26%.

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.