Synovus Financial Corp Decreases Stock Position in Mondelez International, Inc. $MDLZ

Key Points

• Synovus Financial Corp has reduced its stake in Mondelez International by 7.6%, owning 151,709 shares worth approximately $10.3 million after selling 12,554 shares in the first quarter.
• Mondelez International recently reported earnings of $0.73 per share, exceeding analysts' expectations, with a revenue of $8.98 billion for the quarter, which is a 7.7% increase year-over-year.
• The company declared a quarterly dividend of $0.50 per share, increasing from its previous dividend of $0.47, representing an annualized rate of $2.00 and a yield of 3.2%.

Synovus Financial Corp lessened its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 151,709 shares of the company's stock after selling 12,554 shares during the period. Synovus Financial Corp's holdings in Mondelez International were worth $10,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Mondelez International by 90.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company's stock valued at $1,968,811,000 after acquiring an additional 13,755,181 shares during the last quarter. Ameriprise Financial Inc. grew its position in Mondelez International by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock valued at $1,198,491,000 after acquiring an additional 975,929 shares during the last quarter. Northern Trust Corp grew its position in Mondelez International by 6.8% in the 4th quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock valued at $970,786,000 after acquiring an additional 1,035,184 shares during the last quarter. Deutsche Bank AG grew its position in Mondelez International by 17.1% in the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after acquiring an additional 2,002,640 shares during the last quarter. Finally, Nuveen LLC bought a new position in Mondelez International in the 1st quarter valued at $866,843,000. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Price Performance

MDLZ opened at $63.41 on Friday. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69. The business's fifty day simple moving average is $66.34 and its 200-day simple moving average is $65.81. The company has a market capitalization of $82.05 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 4.79 and a beta of 0.46.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%.The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business's revenue was up 7.7% compared to the same quarter last year. Mondelez International has set its FY 2025 guidance at 3.100-3.100 EPS. On average, equities research analysts anticipate that Mondelez International, Inc. will post 2.9 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 Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's dividend payout ratio is currently 68.86%.

Wall Street Analyst Weigh In

Several brokerages have commented on MDLZ. Piper Sandler upped their price objective on Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Barclays upped their price objective on Mondelez International from $74.00 to $77.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Jefferies Financial Group raised Mondelez International from a "hold" rating to a "buy" rating and upped their price objective for the company from $66.00 to $78.00 in a research report on Thursday, July 17th. Sanford C. Bernstein upped their price objective on Mondelez International from $79.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley upped their price objective on Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.