QRG Capital Management Inc. Increases Position in Mondelez International, Inc. (NASDAQ:MDLZ)

QRG Capital Management Inc. grew its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 121,633 shares of the company’s stock after purchasing an additional 6,951 shares during the period. QRG Capital Management Inc.’s holdings in Mondelez International were worth $7,960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MDLZ. SageView Advisory Group LLC purchased a new position in Mondelez International in the fourth quarter worth about $907,000. AGF Management Ltd. raised its holdings in Mondelez International by 32.9% in the 4th quarter. AGF Management Ltd. now owns 1,735,233 shares of the company’s stock worth $125,683,000 after acquiring an additional 429,936 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its position in Mondelez International by 4.7% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 38,518 shares of the company’s stock valued at $2,789,000 after acquiring an additional 1,713 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in Mondelez International by 1.1% during the 4th quarter. Bahl & Gaynor Inc. now owns 5,832,772 shares of the company’s stock valued at $422,468,000 after purchasing an additional 62,595 shares during the last quarter. Finally, Gotham Asset Management LLC increased its holdings in shares of Mondelez International by 10.4% in the 4th quarter. Gotham Asset Management LLC now owns 174,831 shares of the company’s stock worth $12,663,000 after purchasing an additional 16,450 shares in the last quarter. 78.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler lowered their price target on Mondelez International from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI lowered their price objective on shares of Mondelez International from $80.00 to $79.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 4th. Barclays cut their target price on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Finally, Sanford C. Bernstein decreased their target price on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and an average target price of $78.94.

Mondelez International Price Performance

Shares of Mondelez International stock traded down $0.56 during trading hours on Friday, hitting $69.72. The company’s stock had a trading volume of 5,609,393 shares, compared to its average volume of 7,256,222. The company has a market cap of $93.52 billion, a PE ratio of 22.13, a PEG ratio of 2.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.63 and a current ratio of 0.68. The business has a 50 day moving average price of $66.96 and a two-hundred day moving average price of $69.66. Mondelez International, Inc. has a 12-month low of $60.75 and a 12-month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. The company had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the firm earned $0.76 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. Analysts expect that Mondelez International, Inc. will post 3.49 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.70%. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, September 30th. Mondelez International’s dividend payout ratio (DPR) is presently 59.68%.

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.