iA Global Asset Management Inc. Trims Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• iA Global Asset Management Inc. reduced its stake in Mondelez International by 17.8%, owning 147,055 shares valued at approximately $9.98 million after selling 31,882 shares in the first quarter.
• Mondelez International declared a quarterly dividend of $0.50 per share, which represents a 3.1% yield, up from its previous quarterly dividend of $0.47.
• The company reported $0.73 EPS for the last quarter, exceeding analysts' expectations, with revenue increasing 7.7% year-over-year to $8.98 billion.

iA Global Asset Management Inc. reduced its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 147,055 shares of the company's stock after selling 31,882 shares during the quarter. iA Global Asset Management Inc.'s holdings in Mondelez International were worth $9,978,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of Mondelez International by 13.9% in the 4th quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock valued at $2,241,637,000 after acquiring an additional 4,572,555 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Mondelez International by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock valued at $1,198,491,000 after purchasing an additional 975,929 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Mondelez International by 6.8% during the fourth quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock valued at $970,786,000 after purchasing an additional 1,035,184 shares during the period. Deutsche Bank AG raised its holdings in shares of Mondelez International by 17.1% during the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after purchasing an additional 2,002,640 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Mondelez International by 13.6% during the 4th quarter. Invesco Ltd. now owns 12,409,582 shares of the company's stock worth $741,224,000 after purchasing an additional 1,483,270 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ traded down $0.23 during midday trading on Wednesday, reaching $62.07. The company's stock had a trading volume of 7,727,906 shares, compared to its average volume of 8,372,521. 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 stock has a market capitalization of $80.37 billion, a P/E ratio of 22.74, a PEG ratio of 4.71 and a beta of 0.46. The firm has a 50 day moving average price of $67.58 and a 200-day moving average price of $65.37. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter 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. As a group, equities analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current 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. The ex-dividend date is Tuesday, September 30th. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Mondelez International's dividend payout ratio is 68.86%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI boosted their target price on Mondelez International from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $69.00 price objective on shares of Mondelez International in a research note on Monday, April 28th. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. UBS Group reduced their price target on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Finally, Barclays boosted their price target on shares of Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. One equities 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 company. Based on data from MarketBeat, Mondelez International has an average rating of "Moderate Buy" and an average price target of $71.95.

About Mondelez International

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.