Zions Bancorporation National Association UT Invests $2.41 Million in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Zions Bancorporation National Association UT has acquired a new stake in Mondelez International, Inc. valued at approximately $2.4 million, purchasing 35,577 shares in the first quarter.
• Several institutional investors are showing increasing interest in Mondelez, with 78.32% of the stock owned by hedge funds and greater institutional participation noted.
• Mondelez International plans to increase its quarterly dividend from $0.47 to $0.50, representing a yield of 3.2% and a positive signal for shareholders.

Zions Bancorporation National Association UT purchased a new position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 35,577 shares of the company's stock, valued at approximately $2,414,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC acquired a new position in shares of Mondelez International in the first quarter worth about $25,000. Goodman Advisory Group LLC acquired a new stake in Mondelez International in the 1st quarter valued at about $26,000. Transce3nd LLC purchased a new stake in shares of Mondelez International in the 4th quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of Mondelez International in the 4th quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position 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 purchasing an additional 346 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of NASDAQ:MDLZ traded down $0.25 during trading on Monday, reaching $61.58. 13,278,198 shares of the company's stock traded hands, compared to its average volume of 8,133,855. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.39. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The company has a 50 day moving average of $67.28 and a 200-day moving average of $65.53. The stock has a market capitalization of $79.68 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 4.67 and a beta of 0.46.

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 for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.50 dividend. This is a positive change from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. Mondelez International's payout ratio is currently 68.86%.

Analyst Ratings Changes

MDLZ has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. UBS Group cut their price target on shares of Mondelez International from $72.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $68.00 to $78.00 in a research note on Friday, June 20th. Piper Sandler lifted their price objective on shares of Mondelez International from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Dbs Bank upgraded shares of Mondelez International from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.