Mondelez International, Inc. (NASDAQ:MDLZ) Shares Acquired by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. significantly increased its position in Mondelez International by 578.2%, owning 71,888 shares valued at approximately $4.88 million.
• Wells Fargo upgraded Mondelez from "equal weight" to "overweight," increasing its price target from $68 to $78, indicating growing analyst confidence in the stock.
• Mondelez announced a quarterly dividend increase from $0.47 to $0.50 per share, representing a 3.2% yield, with the dividend payout ratio currently at 68.86%.

LGT Fund Management Co Ltd. grew its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 578.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,888 shares of the company's stock after purchasing an additional 61,288 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Mondelez International were worth $4,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC acquired a new position in Mondelez International during the first quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Mondelez International during the 1st quarter worth about $26,000. Transce3nd LLC purchased a new position in Mondelez International in the 4th quarter valued at about $30,000. Orion Capital Management LLC purchased a new position in Mondelez International in the 4th quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Mondelez International by 376.1% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock valued at $30,000 after buying an additional 346 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

NASDAQ MDLZ traded down $0.73 during trading on Thursday, reaching $61.46. The company's stock had a trading volume of 5,695,578 shares, compared to its average volume of 8,761,610. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. The business's fifty day moving average price is $66.86 and its 200-day moving average price is $65.53. The firm has a market cap of $79.53 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 4.70 and a beta of 0.46.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current fiscal 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 given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This is an increase from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a yield of 3.3%. Mondelez International's dividend payout ratio (DPR) is currently 68.86%.

Wall Street Analyst Weigh In

A number of analysts have commented on MDLZ shares. DA Davidson downgraded shares of Mondelez International from a "buy" rating to a "neutral" rating and increased their price objective for the company from $66.00 to $68.00 in a report on Thursday, April 24th. Stifel Nicolaus raised their price target on shares of Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective on shares of Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $66.00 to $78.00 in a research report on Thursday, July 17th. Finally, Dbs Bank upgraded shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $71.95.

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.