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

Several other large investors have also modified their holdings of MDLZ. Abound Financial LLC acquired a new stake in Mondelez International in the first quarter valued at $25,000. Goodman Advisory Group LLC acquired a new position in shares of Mondelez International during the 1st quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Mondelez International by 376.1% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after buying an additional 346 shares during the last quarter. North Capital Inc. acquired a new position in shares of Mondelez International during the 1st quarter worth $31,000. Finally, Orion Capital Management LLC purchased a new stake in Mondelez International during the 4th quarter worth about $30,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Trading Down 0.4%

Shares of NASDAQ MDLZ traded down $0.25 during mid-day trading on Wednesday, hitting $62.05. 4,958,366 shares of the company traded hands, compared to its average volume of 9,090,623. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The stock has a market capitalization of $80.35 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 4.80 and a beta of 0.46. 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 business has a 50 day moving average of $67.58 and a two-hundred day moving average of $65.37.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. The business'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 earned $0.86 EPS. On average, sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is currently 68.86%.

Analyst Ratings Changes

Several analysts have commented on MDLZ shares. DA Davidson cut Mondelez International from a "buy" rating to a "neutral" rating and lifted their price target for the company from $66.00 to $68.00 in a report on Thursday, April 24th. Morgan Stanley raised their price objective on Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Sanford C. Bernstein boosted their price target on Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Mondelez International from $64.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $68.00 to $78.00 in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.95.

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.