Price T Rowe Associates Inc. MD Purchases 13,755,181 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Mondelez International by 90.1%, acquiring an additional 13,755,181 shares, bringing its total ownership to approximately 29 million shares.
• Mondelez International announced a quarterly dividend increase to $0.50 per share, up from $0.47, with a yield of 3.2%.
• The company's latest earnings report showed a 7.7% year-over-year revenue growth and an EPS of $0.73, surpassing estimates, while analysts project a consensus rating of "Moderate Buy" for the stock.

Price T Rowe Associates Inc. MD increased its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 90.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,017,101 shares of the company's stock after acquiring an additional 13,755,181 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.24% of Mondelez International worth $1,968,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC increased its holdings in Mondelez International by 15.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company's stock worth $527,000 after purchasing an additional 1,013 shares in the last quarter. Canopy Partners LLC increased its holdings in Mondelez International by 20.7% in the first quarter. Canopy Partners LLC now owns 16,800 shares of the company's stock worth $1,140,000 after purchasing an additional 2,876 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Mondelez International by 23.6% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44,786 shares of the company's stock worth $3,039,000 after purchasing an additional 8,544 shares in the last quarter. TCW Group Inc. increased its holdings in Mondelez International by 1.1% in the first quarter. TCW Group Inc. now owns 98,444 shares of the company's stock worth $6,679,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in Mondelez International by 58.2% in the first quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock worth $738,000 after purchasing an additional 4,002 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDLZ has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $68.00 to $78.00 in a report on Friday, June 20th. Jefferies Financial Group upgraded Mondelez International from a "hold" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $78.00 in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Sanford C. Bernstein boosted their price objective on Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Dbs Bank upgraded Mondelez International from a "hold" rating to a "moderate buy" rating in a report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Mondelez International Stock Performance

MDLZ stock traded up $0.47 during midday trading on Friday, hitting $63.41. The company's stock had a trading volume of 6,390,624 shares, compared to its average volume of 8,314,123. The stock has a market cap of $82.05 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 4.79 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 stock's 50-day moving average price is $66.34 and its 200 day moving average price is $65.81. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06.

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, beating analysts' consensus estimates 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 quarter in the prior year, the company earned $0.86 EPS. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. On average, equities analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a $0.50 dividend. This is a boost from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Mondelez International's dividend 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.