NorthRock Partners LLC Lowers Stake in Mondelez International, Inc. $MDLZ

Key Points

• NorthRock Partners LLC reduced its stake in Mondelez International by 2.8%, now holding 530,842 shares valued at $36 million, making it the firm's 20th largest holding.
• Mondelez recently declared a quarterly dividend of $0.50 per share, which is a increase from the previous $0.47, representing a yield of 3.3%.
• The company's stock is currently rated with an average of "Moderate Buy" and has an average target price of $71.55 according to analysts.

NorthRock Partners LLC reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 2.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 530,842 shares of the company's stock after selling 15,513 shares during the quarter. Mondelez International accounts for about 0.9% of NorthRock Partners LLC's investment portfolio, making the stock its 20th biggest holding. NorthRock Partners LLC's holdings in Mondelez International were worth $36,048,000 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 bought a new stake in Mondelez International during the 1st quarter valued at about $25,000. Goodman Advisory Group LLC bought a new stake in shares of Mondelez International in the first quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Mondelez International by 376.1% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after acquiring an additional 346 shares during the period. North Capital Inc. bought a new stake in shares of Mondelez International in the first quarter worth approximately $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Mondelez International in the second quarter worth approximately $33,000. 78.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MDLZ. Evercore ISI reduced their price target on shares of Mondelez International from $73.00 to $72.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. Dbs Bank upgraded shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 1st. Piper Sandler boosted their target price on shares of Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on shares of Mondelez International in a research report on Wednesday, August 20th. They set an "overweight" rating and a $75.00 target price for the company. Finally, Sanford C. Bernstein boosted their target price on shares of Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Mondelez International currently has an average rating of "Moderate Buy" and an average target price of $71.55.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $61.45 on Monday. 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, Inc. has a 1-year low of $53.95 and a 1-year high of $72.70. The company has a market capitalization of $79.51 billion, a P/E ratio of 22.51, a P/E/G ratio of 4.65 and a beta of 0.45. The firm's 50 day simple moving average is $62.28 and its two-hundred day simple moving average is $65.43.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 earnings per share for the quarter. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The business had revenue of $7.30 billion for the quarter. Research analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

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

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.

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