TD Asset Management Inc Sells 40,552 Shares of Mondelez International, Inc. $MDLZ

Key Points

• TD Asset Management Inc has reduced its stake in Mondelez International by 4.9%, selling 40,552 shares, and now holds approximately 794,651 shares valued at $53.6 million.
• Jefferies Financial Group upgraded Mondelez International from a "hold" to a "buy" rating, raising its target price from $66 to $78, while other firms have varied opinions on the stock's future performance.
• Mondelez recently increased its quarterly dividend from $0.47 to $0.50, indicating a robust payout with a current yield of 3.2% and a dividend payout ratio of 73.26%.

TD Asset Management Inc trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 794,651 shares of the company's stock after selling 40,552 shares during the period. TD Asset Management Inc owned about 0.06% of Mondelez International worth $53,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Hemington Wealth Management boosted its stake in Mondelez International by 11.4% during the first quarter. Hemington Wealth Management now owns 1,519 shares of the company's stock worth $103,000 after acquiring an additional 156 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Mondelez International by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 15,959 shares of the company's stock valued at $1,083,000 after purchasing an additional 160 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Mondelez International by 37.2% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 601 shares of the company's stock worth $41,000 after purchasing an additional 163 shares in the last quarter. Enterprise Bank & Trust Co grew its stake in shares of Mondelez International by 0.7% in the 2nd quarter. Enterprise Bank & Trust Co now owns 23,964 shares of the company's stock worth $1,616,000 after buying an additional 170 shares during the last quarter. Finally, Sage Private Wealth Group LLC increased its position in Mondelez International by 3.7% during the 1st quarter. Sage Private Wealth Group LLC now owns 4,921 shares of the company's stock valued at $334,000 after buying an additional 175 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDLZ. Jefferies Financial Group raised Mondelez International from a "hold" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $78.00 in a report on Thursday, July 17th. UBS Group cut their target price on Mondelez International from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. Piper Sandler upped their price target on Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Morgan Stanley dropped their price target on shares of Mondelez International from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Monday, October 6th. Finally, Berenberg Bank cut shares of Mondelez International from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a report on Thursday, October 2nd. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $70.89.

Mondelez International Trading Down 0.8%

Shares of Mondelez International stock opened at $61.66 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $72.35. The company has a fifty day moving average of $62.23 and a 200 day moving average of $65.34. The company has a market capitalization of $79.78 billion, a P/E ratio of 22.59, a P/E/G ratio of 5.55 and a beta of 0.45.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 11th. The company reported $0.66 earnings per share (EPS) for the quarter. The business had revenue of $7.30 billion during the quarter. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. On average, sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were issued a $0.50 dividend. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Mondelez International's dividend payout ratio (DPR) is presently 73.26%.

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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