Perkins Coie Trust Co Has $543,000 Stock Position in Mondelez International, Inc. $MDLZ

Key Points

• Perkins Coie Trust Co significantly reduced its stake in Mondelez International by 42.8% during Q2, selling over 6,000 shares for a total of 8,050 shares valued at $543,000.
• Several hedge funds increased their holdings in Mondelez, reflecting strong institutional interest, with 78.32% of the company's stock currently owned by institutional investors.
• Mondelez International plans to boost its quarterly dividend from $0.47 to $0.50, resulting in an annualized dividend yield of 3.2%.

Perkins Coie Trust Co decreased its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 42.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,050 shares of the company's stock after selling 6,024 shares during the quarter. Perkins Coie Trust Co's holdings in Mondelez International were worth $543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Mondelez International in the second quarter worth $44,000. Rockland Trust Co. boosted its holdings in Mondelez International by 22.2% in the second quarter. Rockland Trust Co. now owns 6,951 shares of the company's stock worth $469,000 after purchasing an additional 1,262 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Mondelez International by 1,238.7% in the second quarter. Exchange Traded Concepts LLC now owns 206,357 shares of the company's stock worth $13,917,000 after purchasing an additional 190,942 shares during the period. Fulton Bank N.A. boosted its holdings in shares of Mondelez International by 9.9% during the second quarter. Fulton Bank N.A. now owns 5,132 shares of the company's stock valued at $346,000 after acquiring an additional 461 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of Mondelez International by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 38,589 shares of the company's stock valued at $2,662,000 after acquiring an additional 584 shares during the period. Institutional investors own 78.32% of the company's stock.

Wall Street Analysts Forecast Growth

MDLZ has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Mondelez International in a report on Wednesday, August 20th. They set an "overweight" rating and a $75.00 price target for the company. Sanford C. Bernstein boosted their price target on shares of Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. 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 price objective on Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group upgraded Mondelez International from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $66.00 to $78.00 in a report on Thursday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $72.00.

Mondelez International Stock Performance

MDLZ stock traded down $0.01 during midday trading on Tuesday, hitting $63.50. The stock had a trading volume of 1,407,358 shares, compared to its average volume of 8,721,533. The firm has a market capitalization of $82.16 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 4.82 and a beta of 0.44. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $75.11. The stock has a 50-day simple moving average of $63.94 and a 200 day simple moving average of $65.72. 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 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. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%.The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $8.82 billion. During the same period last year, the business earned $0.86 earnings per share. Mondelez International's quarterly revenue was up 7.7% compared to the same quarter last year. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. As a group, equities research analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 30th. Mondelez International's dividend payout ratio is 68.86%.

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.