Welch & Forbes LLC Sells 5,214 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Welch & Forbes LLC lessened its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 22.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,285 shares of the company's stock after selling 5,214 shares during the quarter. Welch & Forbes LLC's holdings in Mondelez International were worth $1,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDLZ. Norges Bank acquired a new position in Mondelez International in the fourth quarter valued at $1,118,755,000. Capital Research Global Investors lifted its holdings in Mondelez International by 13.9% in the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock valued at $2,241,637,000 after buying an additional 4,572,555 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Mondelez International in the first quarter valued at $189,930,000. Deutsche Bank AG lifted its holdings in Mondelez International by 17.1% in the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after buying an additional 2,002,640 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Mondelez International in the fourth quarter valued at $104,065,000. Institutional investors own 78.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Mondelez International from $59.00 to $64.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Mondelez International from a "hold" rating to a "buy" rating and upped their price objective for the company from $66.00 to $78.00 in a report on Thursday. Wells Fargo & Company raised shares of Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. JPMorgan Chase & Co. boosted their target price on shares of Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $69.00 target price on shares of Mondelez International in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.63.

Mondelez International Stock Performance

Shares of MDLZ stock traded up $2.33 during trading on Thursday, reaching $69.80. 9,139,327 shares of the company's stock traded hands, compared to its average volume of 8,076,673. The company has a market capitalization of $90.38 billion, a P/E ratio of 25.95, a PEG ratio of 5.23 and a beta of 0.48. The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 0.61. The firm's 50-day moving average is $66.98 and its 200 day moving average is $64.40. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter, compared to analysts' expectations of $9.37 billion. Mondelez International had a net margin of 9.90% and a return on equity of 15.94%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. Equities research analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, June 30th. Mondelez International's payout ratio is 69.89%.

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.