Pettyjohn Wood & White Inc. Reduces Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Pettyjohn Wood & White Inc. reduced its stake in Mondelez International by 48.4% during Q1, selling 4,816 shares and leaving them with 5,144 shares valued at $349,000.
• Mondelez reported $0.73 earnings per share for the last quarter, exceeding expectations of $0.68, with revenues of $8.98 billion, a 7.7% year-over-year increase.
• The company announced a quarterly dividend increase to $0.50 per share, reflecting an annualized dividend of $2.00 and a yield of 3.1%.

Pettyjohn Wood & White Inc. trimmed its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 48.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,144 shares of the company's stock after selling 4,816 shares during the period. Pettyjohn Wood & White Inc.'s holdings in Mondelez International were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MDLZ. Abound Financial LLC bought a new position in shares of Mondelez International during the first quarter valued at about $25,000. Goodman Advisory Group LLC bought a new position in shares of Mondelez International during the first quarter valued at about $26,000. Transce3nd LLC bought a new position in shares of Mondelez International during the fourth quarter valued at about $30,000. Orion Capital Management LLC bought a new position in shares of Mondelez International during the fourth quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Mondelez International by 376.1% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock valued at $30,000 after acquiring an additional 346 shares during the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein increased their price target on shares of Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. DA Davidson downgraded shares of Mondelez International from a "buy" rating to a "neutral" rating and increased their price target for the stock from $66.00 to $68.00 in a research note on Thursday, April 24th. Piper Sandler increased their price target on shares of Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their price target on shares of Mondelez International from $73.00 to $76.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Mondelez International has an average rating of "Moderate Buy" and an average target price of $71.95.

Mondelez International Stock Performance

MDLZ stock traded down $0.76 on Friday, hitting $63.93. The company had a trading volume of 10,650,337 shares, compared to its average volume of 8,207,623. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69. The stock's 50-day simple moving average is $67.73 and its 200 day simple moving average is $65.35. The stock has a market cap of $82.78 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 4.84 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The company 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 firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. As a group, equities research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share 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. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. This is a boost from Mondelez International's previous quarterly dividend of $0.47. 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.