National Bank of Canada FI Sells 1,941,576 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• National Bank of Canada FI significantly reduced its stake in Mondelez International, selling 1,941,576 shares and retaining 402,419 shares for a total value of approximately $27.3 million.
• Mondelez International reported earnings of $0.73 per share for the latest quarter, exceeding analysts' estimates by $0.05, with revenues rising 7.7% year-over-year.
• The company recently increased its quarterly dividend to $0.50 per share, representing an annualized yield of 3.2%.

National Bank of Canada FI lowered its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 82.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 402,419 shares of the company's stock after selling 1,941,576 shares during the period. National Bank of Canada FI's holdings in Mondelez International were worth $27,303,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of Mondelez International by 92.4% in the fourth quarter. Brighton Jones LLC now owns 14,631 shares of the company's stock worth $874,000 after purchasing an additional 7,025 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Mondelez International by 1.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 334,994 shares of the company's stock worth $20,009,000 after purchasing an additional 3,706 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Mondelez International by 65.3% in the fourth quarter. Federated Hermes Inc. now owns 26,010 shares of the company's stock worth $1,554,000 after purchasing an additional 10,279 shares during the last quarter. FIL Ltd grew its stake in shares of Mondelez International by 93.6% in the fourth quarter. FIL Ltd now owns 11,137 shares of the company's stock worth $665,000 after purchasing an additional 5,383 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Mondelez International by 21.5% in the fourth quarter. Townsquare Capital LLC now owns 112,118 shares of the company's stock worth $6,697,000 after purchasing an additional 19,839 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $68.00 to $78.00 in a research report on Friday, June 20th. Sanford C. Bernstein lifted their price objective on Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler lifted their price objective on Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. DA Davidson cut Mondelez International from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $66.00 to $68.00 in a research report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their price target on Mondelez International from $73.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Mondelez International currently has an average rating of "Moderate Buy" and a consensus price target of $71.95.

Mondelez International Stock Performance

Shares of NASDAQ:MDLZ traded down $0.74 during midday trading on Thursday, hitting $61.45. The company had a trading volume of 3,995,411 shares, compared to its average volume of 9,043,176. 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 company has a market cap of $79.51 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 4.64 and a beta of 0.46. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The company has a fifty day moving average of $66.96 and a two-hundred day moving average of $65.51.

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 return on equity of 15.35% and a net margin of 9.84%. The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the prior year, the business posted $0.86 EPS. Mondelez International's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This is a boost from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Mondelez International's payout ratio is currently 73.26%.

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.