State of New Jersey Common Pension Fund D Has $30.69 Million Stock Position in Mondelez International, Inc. $MDLZ

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Mondelez International, Inc. by 8.4%, selling 41,392 shares to own 452,282 shares valued at approximately $30.69 million.
• Mondelez recently announced a quarterly dividend increase to $0.50 per share, resulting in an annualized dividend yield of 3.2%, up from the previous $0.47.
• Analysts have varied price targets for Mondelez, with a consensus rating of "Moderate Buy" and a consensus target price of $71.95.

State of New Jersey Common Pension Fund D cut its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,282 shares of the company's stock after selling 41,392 shares during the period. State of New Jersey Common Pension Fund D's holdings in Mondelez International were worth $30,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDLZ. Abound Financial LLC acquired a new position in shares of Mondelez International during the 1st quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in shares of Mondelez International during the 1st quarter worth $26,000. Transce3nd LLC acquired a new position in shares of Mondelez International during the 4th quarter worth $30,000. Orion Capital Management LLC acquired a new position in shares of Mondelez International during the 4th quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Mondelez International by 376.1% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after buying an additional 346 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Trading Down 0.4%

Shares of NASDAQ:MDLZ traded down $0.24 during midday trading on Monday, reaching $61.84. The company's stock had a trading volume of 5,063,898 shares, compared to its average volume of 8,361,275. The firm has a market capitalization of $80.02 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 4.69 and a beta of 0.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. The firm has a 50 day moving average price of $66.68 and a two-hundred day moving average price of $65.70. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week 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 company had revenue of $8.98 billion for 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 firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. As a group, analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The company 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 dividend of $0.50 per share. This is an increase 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 dividend on an annualized basis and a yield of 3.2%. Mondelez International's dividend payout ratio (DPR) is currently 68.86%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised Mondelez International from a "hold" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $78.00 in a report on Thursday, July 17th. Piper Sandler upped their price target on Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $68.00 to $78.00 in a research report on Friday, June 20th. UBS Group reduced their price target on Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Finally, Stifel Nicolaus upped their price target on Mondelez International from $73.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Mondelez International currently has an average rating of "Moderate Buy" and a consensus target price of $71.95.

Mondelez International 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.