State of Michigan Retirement System Sells 12,100 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

State of Michigan Retirement System lowered its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 350,870 shares of the company's stock after selling 12,100 shares during the quarter. State of Michigan Retirement System's holdings in Mondelez International were worth $23,807,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its stake in Mondelez International by 15.0% in the 1st 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 during the period. Commonwealth Equity Services LLC lifted its position in Mondelez International by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 457,774 shares of the company's stock valued at $27,343,000 after purchasing an additional 4,121 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Mondelez International by 23.6% during 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 period. Flagship Harbor Advisors LLC increased its stake in shares of Mondelez International by 58.2% during the first quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock valued at $738,000 after buying an additional 4,002 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Mondelez International by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,423,363 shares of the company's stock worth $1,040,697,000 after purchasing an additional 208,181 shares during the period. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ traded up $0.46 during trading on Monday, hitting $67.64. 5,324,684 shares of the company's stock were exchanged, compared to its average volume of 9,187,985. The company has a market cap of $87.58 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 5.21 and a beta of 0.48. The business's 50-day simple moving average is $66.99 and its 200 day simple moving average is $64.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.61 and a quick ratio of 0.40. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter, compared to analysts' expectations of $9.37 billion. Mondelez International had a return on equity of 15.94% and a net margin of 9.90%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. As a group, equities analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, June 30th. Mondelez International's dividend payout ratio is presently 69.89%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MDLZ shares. Piper Sandler upped their price target on Mondelez International from $59.00 to $64.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Evercore ISI increased their target price on Mondelez International from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $68.00 to $78.00 in a research note on Friday, June 20th. Barclays increased their target price on Mondelez International from $71.00 to $74.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on Mondelez International from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $70.63.

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.