OLD National Bancorp IN Buys 4,788 Shares of Mondelez International, Inc. $MDLZ

Key Points

• OLD National Bancorp IN increased its stake in Mondelez International, acquiring an additional 4,788 shares and raising its total holdings by 35.5% during the second quarter.
• Mondelez International reported $0.73 earnings per share for the last quarter, surpassing analyst estimates and reflecting an annual revenue growth of 7.7%.
• The company announced an increase in its quarterly dividend to $0.50, resulting in an annualized dividend yield of 3.2%.

OLD National Bancorp IN grew its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 35.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,258 shares of the company's stock after buying an additional 4,788 shares during the quarter. OLD National Bancorp IN's holdings in Mondelez International were worth $1,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Mondelez International by 90.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company's stock valued at $1,968,811,000 after purchasing an additional 13,755,181 shares in the last quarter. Nuveen LLC purchased a new position in shares of Mondelez International in the 1st quarter worth about $866,843,000. Invesco Ltd. increased its position in shares of Mondelez International by 1.1% during the 1st quarter. Invesco Ltd. now owns 12,547,186 shares of the company's stock valued at $851,327,000 after purchasing an additional 137,604 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Mondelez International by 57.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company's stock valued at $640,964,000 after buying an additional 3,454,174 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in Mondelez International by 1.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 6,147,235 shares of the company's stock worth $417,090,000 after buying an additional 89,362 shares during the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Price Performance

MDLZ stock opened at $61.78 on Tuesday. The firm's 50-day moving average price is $62.62 and its two-hundred day moving average price is $65.55. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $72.70. The stock has a market capitalization of $79.94 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 4.74 and a beta of 0.45. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. The company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. Mondelez International's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's dividend payout ratio is 73.26%.

Analyst Ratings Changes

A number of research analysts have commented on MDLZ shares. Stifel Nicolaus increased their price target on shares of Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Berenberg Bank lowered shares of Mondelez International from a "buy" rating to a "hold" rating and set a $70.00 target price on the stock. in a report on Thursday, October 2nd. Evercore ISI lowered 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. Finally, Sanford C. Bernstein lifted their price objective on Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $71.75.

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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