Rafferty Asset Management LLC Sells 46,404 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Rafferty Asset Management LLC decreased its holdings in Mondelez International by 14.0%, owning 286,050 shares valued at approximately $19.4 million after selling 46,404 shares in the first quarter.
• Several institutional investors are adjusting their positions, with Price T Rowe Associates increasing its stake by 90.1% to over 29 million shares valued at nearly $2 billion.
• Mondelez International has announced a quarterly dividend increase from $0.47 to $0.50 per share, representing a 3.2% annualized yield, set to be paid on October 14th.

Rafferty Asset Management LLC lessened its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 14.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 286,050 shares of the company's stock after selling 46,404 shares during the quarter. Rafferty Asset Management LLC's holdings in Mondelez International were worth $19,408,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC boosted its stake in shares of Mondelez International by 15.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company's stock worth $527,000 after buying an additional 1,013 shares during the last quarter. Canopy Partners LLC raised its stake in Mondelez International by 20.7% in the first quarter. Canopy Partners LLC now owns 16,800 shares of the company's stock valued at $1,140,000 after buying an additional 2,876 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 valued at $3,039,000 after buying an additional 8,544 shares during the last quarter. TCW Group Inc. boosted its position in Mondelez International by 1.1% during 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 during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Mondelez International by 58.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock worth $738,000 after buying an additional 4,002 shares during the period. Institutional investors and hedge funds own 78.32% of the company's stock.

Mondelez International Price Performance

NASDAQ:MDLZ traded up $0.16 during trading hours on Monday, hitting $61.44. The company's stock had a trading volume of 5,866,833 shares, compared to its average volume of 7,062,599. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.39. The stock has a fifty day simple moving average of $65.82 and a 200-day simple moving average of $65.93. The company has a market capitalization of $79.50 billion, a P/E ratio of 22.51, a PEG ratio of 4.65 and a beta of 0.44.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. On average, analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Mondelez International's dividend payout ratio (DPR) is 73.26%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays increased their price objective on Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Mondelez International in a research report on Wednesday, August 20th. They set an "overweight" rating and a $75.00 target price on the stock. UBS Group dropped their price target on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Jefferies Financial Group upgraded Mondelez International from a "hold" rating to a "buy" rating and boosted their price target for the company from $66.00 to $78.00 in a research note on Thursday, July 17th. Finally, Piper Sandler raised their price target on Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Fourteen investment 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.00.

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.