US Bancorp DE Sells 50,178 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• US Bancorp DE reduced its stake in Mondelez International by 4.3%, now owning 1,114,726 shares valued at approximately $75.63 million according to its latest SEC filing.
• Mondelez International reported quarterly earnings of $0.73 per share, surpassing expectations and showing a year-over-year revenue increase of 7.7% to $8.98 billion.
• The company announced a quarterly dividend of $0.50 per share, with a payout ratio of 68.86%, reflecting an increase from the previous dividend of $0.47.

US Bancorp DE decreased its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,114,726 shares of the company's stock after selling 50,178 shares during the quarter. US Bancorp DE owned approximately 0.09% of Mondelez International worth $75,634,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in Mondelez International by 13.9% during the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock valued at $2,241,637,000 after acquiring an additional 4,572,555 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Mondelez International by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company's stock worth $1,198,491,000 after acquiring an additional 975,929 shares during the period. Northern Trust Corp grew its position in shares of Mondelez International by 6.8% during the fourth quarter. Northern Trust Corp now owns 16,252,906 shares of the company's stock worth $970,786,000 after purchasing an additional 1,035,184 shares in the last quarter. Deutsche Bank AG raised its stake in Mondelez International by 17.1% during the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after purchasing an additional 2,002,640 shares during the period. Finally, Invesco Ltd. raised its stake in Mondelez International by 13.6% during the 4th quarter. Invesco Ltd. now owns 12,409,582 shares of the company's stock valued at $741,224,000 after purchasing an additional 1,483,270 shares during the period. Institutional investors own 78.32% of the company's stock.

Mondelez International Trading Down 1.2%

NASDAQ MDLZ traded down $0.76 on Friday, hitting $63.93. 10,650,337 shares of the stock were exchanged, compared to its average volume of 8,207,623. 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 52-week low of $53.95 and a 52-week high of $76.06. The firm has a market capitalization of $82.78 billion, a P/E ratio of 23.42, a P/E/G ratio of 4.84 and a beta of 0.46. The stock has a fifty day moving average price of $67.73 and a two-hundred day moving average price of $65.35.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.05. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.82 billion. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Research analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's dividend payout ratio is 68.86%.

Analysts Set New Price Targets

MDLZ has been the subject of several recent analyst reports. Barclays upped their price target on Mondelez International from $74.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday. Royal Bank Of Canada restated an "outperform" rating and set a $69.00 target price on shares of Mondelez International in a research report on Monday, April 28th. Piper Sandler raised their target price on shares of Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Wednesday. Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $68.00 to $78.00 in a research note on Friday, June 20th. Finally, Morgan Stanley increased their price objective on shares of Mondelez International from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.95.

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.