Ashton Thomas Private Wealth LLC Sells 21,849 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Ashton Thomas Private Wealth LLC trimmed its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 37.0% in the second quarter, Holdings Channel.com reports. The fund owned 37,205 shares of the company’s stock after selling 21,849 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Mondelez International were worth $2,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Mondelez International by 5.4% during the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after acquiring an additional 6,696,897 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Mondelez International by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,406,133 shares of the company’s stock worth $2,636,897,000 after purchasing an additional 1,686,229 shares during the period. Capital Research Global Investors grew its stake in Mondelez International by 7.3% during the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock worth $2,274,792,000 after purchasing an additional 2,206,023 shares during the period. Capital World Investors grew its stake in Mondelez International by 2.2% during the fourth quarter. Capital World Investors now owns 21,562,411 shares of the company’s stock worth $1,561,765,000 after purchasing an additional 463,738 shares during the period. Finally, Norges Bank acquired a new stake in Mondelez International during the fourth quarter worth approximately $1,231,413,000. 78.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MDLZ shares. Barclays decreased their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft decreased their target price on Mondelez International from $78.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. TD Cowen reduced their price objective on Mondelez International from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, Piper Sandler reduced their price objective on Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.61.

Mondelez International Stock Performance

Shares of MDLZ opened at $75.71 on Tuesday. The firm has a market cap of $101.13 billion, a PE ratio of 24.03, a PEG ratio of 3.05 and a beta of 0.54. The stock’s fifty day moving average price is $69.05 and its two-hundred day moving average price is $69.29. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.50. Mondelez International, Inc. has a 1 year low of $60.75 and a 1 year high of $77.20.

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

Mondelez International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be given a $0.47 dividend. The ex-dividend date is Monday, September 30th. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 2.48%. Mondelez International’s payout ratio is 53.97%.

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.