AGF Management Ltd. Sells 29,800 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• AGF Management Ltd. has decreased its holdings in Mondelez International by 1.8%, now owning approximately 1.66 million shares valued at $112.96 million.
• In contrast, several institutional investors, such as Capital Research Global Investors and Deutsche Bank AG, have increased their stakes significantly, with Capital Research boosting its position by 13.9%.
• Mondelez recently announced a quarterly dividend increase to $0.50, reflecting a boost from the previous dividend and resulting in a 3.2% yield for shareholders.

AGF Management Ltd. reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,664,780 shares of the company's stock after selling 29,800 shares during the quarter. AGF Management Ltd. owned approximately 0.13% of Mondelez International worth $112,955,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in 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 buying an additional 7,025 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in 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 buying an additional 3,706 shares during the last quarter. Federated Hermes Inc. increased its holdings in 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 buying an additional 10,279 shares during the last quarter. FIL Ltd increased its holdings in 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 buying an additional 5,383 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in 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 buying an additional 19,839 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDLZ has been the topic of a number of research reports. UBS Group dropped their price objective on Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Sanford C. Bernstein increased their price target on Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $69.00 price target on shares of Mondelez International in a report on Monday, April 28th. Stifel Nicolaus increased their price target on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.95.

Mondelez International Stock Performance

Shares of Mondelez International stock traded down $0.73 during midday trading on Thursday, hitting $61.46. The company had a trading volume of 5,695,578 shares, compared to its average volume of 9,058,326. The stock has a market cap of $79.53 billion, a PE ratio of 22.51, a P/E/G ratio of 4.64 and a beta of 0.46. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The business's 50 day simple moving average is $66.96 and its two-hundred day simple moving average is $65.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.39.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05. The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $8.82 billion. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. Mondelez International's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. As a group, equities analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.3%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 30th. Mondelez International's dividend payout ratio (DPR) 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.