OVERSEA CHINESE BANKING Corp Ltd Sells 5,634 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Mondelez International by 64.8% in the first quarter, resulting in ownership of 3,056 shares valued at $207,000.
• Mondelez International reported a quarterly earnings per share (EPS) of $0.73, surpassing analyst estimates of $0.68 and showing a 7.7% increase in revenue year-over-year.
• The company announced a new quarterly dividend of $0.50 per share, an increase from the previous $0.47, reflecting a 3.1% dividend yield.

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 64.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,056 shares of the company's stock after selling 5,634 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Mondelez International were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Mondelez International by 92.4% during 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 period. Bank Pictet & Cie Europe AG grew its holdings in shares of Mondelez International by 1.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 334,994 shares of the company's stock valued at $20,009,000 after buying an additional 3,706 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Mondelez International in the 4th quarter valued at $868,000. Prudential PLC bought a new stake in Mondelez International in the 4th quarter valued at $282,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in Mondelez International in the 4th quarter valued at $25,357,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective 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. Barclays boosted their price objective on shares of Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley boosted their price objective on shares of Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. DA Davidson cut shares of Mondelez International from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $66.00 to $68.00 in a research report on Thursday, April 24th. Finally, Evercore ISI increased their price objective on shares of Mondelez International from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.95.

Mondelez International Stock Down 1.9%

MDLZ stock traded down $1.23 during trading on Tuesday, reaching $62.30. The stock had a trading volume of 9,068,907 shares, compared to its average volume of 8,255,408. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $76.06. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 0.69. The company's 50 day moving average is $67.68 and its two-hundred day moving average is $65.39. The company has a market capitalization of $80.67 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 4.80 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. The firm had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $8.82 billion. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. Equities research analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current 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 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 dividend on an annualized basis and a yield of 3.2%. Mondelez International's payout ratio is currently 68.86%.

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.