Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Key Points

• Zurcher Kantonalbank increased its stake in Mondelez International by 1.5% during the first quarter, owning 543,074 shares valued at approximately $36.85 million.
• Mondelez reported a quarterly earnings per share of $0.74, exceeding analysts' expectations of $0.67, although its revenue of $9.31 billion was slightly below estimates.
• The company announced a quarterly dividend of $0.47 per share, resulting in an annualized dividend yield of 2.66% and a payout ratio of 69.89%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 543,074 shares of the company's stock after buying an additional 7,967 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Mondelez International were worth $36,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kingswood Wealth Advisors LLC grew its holdings in shares of Mondelez International by 15.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company's stock worth $527,000 after buying an additional 1,013 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Mondelez International by 23.6% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44,786 shares of the company's stock worth $3,039,000 after buying an additional 8,544 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Mondelez International by 58.2% during the first quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock worth $738,000 after buying an additional 4,002 shares in the last quarter. CORDA Investment Management LLC. grew its holdings in shares of Mondelez International by 1.5% during the first quarter. CORDA Investment Management LLC. now owns 573,612 shares of the company's stock worth $38,920,000 after buying an additional 8,456 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Mondelez International by 1.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,423,363 shares of the company's stock worth $1,040,697,000 after buying an additional 208,181 shares in the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Trading Up 0.6%

Shares of MDLZ stock opened at $70.58 on Monday. The stock has a market cap of $91.39 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 5.31 and a beta of 0.48. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 0.61. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The firm's 50 day moving average price is $67.64 and its two-hundred day moving average price is $65.01.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Mondelez International had a net margin of 9.90% and a return on equity of 15.94%. The business had revenue of $9.31 billion for the quarter, compared to analysts' expectations of $9.37 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The business's revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.66%. Mondelez International's payout ratio is currently 69.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDLZ. Evercore ISI boosted their target price on shares of Mondelez International from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Piper Sandler boosted their target price on shares of Mondelez International from $59.00 to $64.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $69.00 target price on shares of Mondelez International in a report on Monday, April 28th. DA Davidson downgraded shares of Mondelez International from a "buy" rating to a "neutral" rating and boosted their target price for the company from $66.00 to $68.00 in a report on Thursday, April 24th. Finally, Wells Fargo & Company upgraded shares of Mondelez International from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $68.00 to $78.00 in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Mondelez International has an average rating of "Moderate Buy" and an average target price of $70.72.

About Mondelez International

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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