State Street Corp Sells 2,204,070 Shares of Mondelez International, Inc. $MDLZ

Key Points

• State Street reduced its Mondelez stake by 3.6%, selling 2.2 million shares during the second quarter but retaining about 59.6 million shares worth $3.48 billion.
• Analysts remain broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $67.30, compared with a recent price of $61.08.
• Mondelez exceeded quarterly earnings and revenue expectations and raised its quarterly dividend from $0.50 to $0.52 per share, equivalent to a 3.4% annualized yield.

State Street Corp reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,579,607 shares of the company's stock after selling 2,204,070 shares during the quarter. State Street Corp owned about 4.67% of Mondelez International worth $3,475,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Capital International Investors raised its position in Mondelez International by 10.7% during the fourth quarter. Capital International Investors now owns 86,943,586 shares of the company's stock valued at $4,681,024,000 after purchasing an additional 8,382,270 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mondelez International by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 29,298,651 shares of the company's stock valued at $1,570,182,000 after purchasing an additional 108,179 shares in the last quarter. Norges Bank purchased a new stake in shares of Mondelez International in the 4th quarter valued at $1,010,020,000. Deutsche Bank AG grew its holdings in shares of Mondelez International by 12.5% during the 4th quarter. Deutsche Bank AG now owns 14,353,633 shares of the company's stock valued at $772,656,000 after purchasing an additional 1,589,713 shares during the last quarter. Finally, Nuveen LLC raised its position in Mondelez International by 2.7% in the 4th quarter. Nuveen LLC now owns 11,963,099 shares of the company's stock worth $643,974,000 after purchasing an additional 319,422 shares during the period. 78.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Mondelez International from $70.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Morgan Stanley reiterated an "overweight" rating on shares of Mondelez International in a report on Friday, May 29th. Jefferies Financial Group reissued a "buy" rating and issued a $73.00 target price on shares of Mondelez International in a research note on Wednesday, July 29th. Barclays increased their target price on Mondelez International from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Finally, Freedom Capital cut Mondelez International from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.30.

Insider Activity at Mondelez International

In related news, CEO Dirk Van de Put sold 133,580 shares of Mondelez International stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $64.08, for a total value of $8,559,806.40. Following the completion of the sale, the chief executive officer owned 1,326,488 shares of the company's stock, valued at $85,001,351.04. The trade was a 9.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.45% of the stock is owned by insiders.

Mondelez International Stock Up 1.5%

Shares of NASDAQ:MDLZ opened at $61.08 on Wednesday. The stock has a market capitalization of $77.96 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.35 and a beta of 0.39. The stock has a fifty day simple moving average of $62.08 and a two-hundred day simple moving average of $60.39. Mondelez International, Inc. has a 12-month low of $51.20 and a 12-month high of $66.65. The company has a current ratio of 0.60, a quick ratio of 0.40 and a debt-to-equity ratio of 0.62.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.05. The business had revenue of $9.36 billion for the quarter, compared to analysts' expectations of $9.21 billion. Mondelez International had a net margin of 8.86% and a return on equity of 14.07%. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. Mondelez International has set its FY 2026 guidance at 2.970-3.120 EPS. On average, research analysts anticipate that Mondelez International, Inc. will post 3.05 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a $0.52 dividend. This is an increase from Mondelez International's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. Mondelez International's dividend payout ratio (DPR) is 73.53%.

About Mondelez International

Mondelez International, Inc is a global snack-food company headquartered in Chicago, Illinois. The company develops, manufactures, markets and distributes branded snacks, including biscuits, cookies, crackers, chocolate, candy, baked snacks and powdered beverages.

Its portfolio includes well-known brands such as Oreo, Ritz, Chips Ahoy!, belVita, Cadbury, Milka, Toblerone, Sour Patch Kids, Trident and Clif Bar. Mondelez sells its products through grocery stores, convenience stores, mass merchandisers, e-commerce platforms and other retail channels.

Mondelez was established in 2012 following the separation of Kraft Foods' global snacks business from its North American grocery operations.

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