Scotia Capital Inc. Sells 20,284 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Scotia Capital Inc. sold 20,284 shares of Mondelez International, reducing its stake by 10.7%, resulting in ownership of 169,870 shares valued at approximately $11.5 million.
• Mondelez International's stock price recently decreased by 1.2% and the company reported a 7.7% increase in quarterly revenue year-over-year, totaling $8.98 billion.
• The firm declared an increase in its quarterly dividend from $0.47 to $0.50, representing a dividend yield of 3.1%.

Scotia Capital Inc. decreased its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,870 shares of the company's stock after selling 20,284 shares during the period. Scotia Capital Inc.'s holdings in Mondelez International were worth $11,526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors grew its holdings in Mondelez International by 13.9% during the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock worth $2,241,637,000 after purchasing an additional 4,572,555 shares during the period. Ameriprise Financial Inc. grew its holdings in Mondelez International by 5.1% during the fourth quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock worth $1,198,491,000 after purchasing an additional 975,929 shares during the period. Northern Trust Corp grew its holdings in Mondelez International by 6.8% during the fourth quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock worth $970,786,000 after purchasing an additional 1,035,184 shares during the period. Deutsche Bank AG grew its holdings in Mondelez International by 17.1% during the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock worth $820,337,000 after purchasing an additional 2,002,640 shares during the period. Finally, Invesco Ltd. grew its holdings in Mondelez International by 13.6% during the fourth quarter. Invesco Ltd. now owns 12,409,582 shares of the company's stock worth $741,224,000 after purchasing an additional 1,483,270 shares during the period. Institutional investors own 78.32% of the company's stock.

Mondelez International Stock Down 1.2%

NASDAQ MDLZ opened at $63.93 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The company has a 50 day moving average of $67.73 and a 200-day moving average of $65.35. The company has a market cap of $82.78 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 4.84 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released 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. 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 the consensus estimate of $8.82 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, 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 given a $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. Mondelez International's dividend payout ratio (DPR) is presently 68.86%.

Analyst Ratings Changes

A number of equities analysts recently commented on MDLZ shares. Evercore ISI lifted their price target on Mondelez International from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $68.00 to $78.00 in a report on Friday, June 20th. Morgan Stanley lifted their price target on Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Finally, Sanford C. Bernstein raised their price objective on shares of Mondelez International from $79.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.

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