Public Sector Pension Investment Board Sells 1,476,906 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• The Public Sector Pension Investment Board reduced its stake in Mondelez International by 89.7% in Q1, now holding 170,013 shares valued at approximately $11.5 million.
• Mondelez International raised its quarterly dividend from $0.47 to $0.50, providing a yield of 3.3%.
• Several hedge funds increased their holdings in Mondelez, with Capital Research Global Investors growing its position by 13.9% in the last quarter, now owning over 37 million shares.

Public Sector Pension Investment Board decreased its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 89.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,013 shares of the company's stock after selling 1,476,906 shares during the quarter. Public Sector Pension Investment Board's holdings in Mondelez International were worth $11,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eagle Global Advisors LLC raised its holdings in Mondelez International by 5.7% during the 1st quarter. Eagle Global Advisors LLC now owns 35,831 shares of the company's stock valued at $2,431,000 after acquiring an additional 1,930 shares during the period. AIA Group Ltd increased its holdings in shares of Mondelez International by 30.9% in the first quarter. AIA Group Ltd now owns 44,386 shares of the company's stock worth $3,012,000 after purchasing an additional 10,490 shares during the period. Ballast Inc. increased its holdings in shares of Mondelez International by 3.9% in the first quarter. Ballast Inc. now owns 20,008 shares of the company's stock worth $1,358,000 after purchasing an additional 748 shares during the period. First American Trust FSB bought a new position in shares of Mondelez International in the first quarter worth $219,000. Finally, Nuveen LLC bought a new position in shares of Mondelez International in the first quarter worth $866,843,000. Institutional investors own 78.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of Mondelez International from $73.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Piper Sandler upped their price target on shares of Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. DA Davidson lowered shares of Mondelez International from a "buy" rating to a "neutral" rating and upped their target price for the stock from $66.00 to $68.00 in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $68.00 to $78.00 in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $71.95.

Mondelez International Trading Up 1.0%

Shares of Mondelez International stock traded up $0.62 during trading on Friday, reaching $62.08. 5,848,442 shares of the stock were exchanged, compared to its average volume of 8,589,398. 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 fifty day moving average is $66.78 and its 200 day moving average is $65.57. The firm has a market cap of $80.33 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 4.64 and a beta of 0.46. 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 posted its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Mondelez International's revenue for the quarter was up 7.7% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Mondelez International's previous quarterly dividend of $0.47. 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.