Mondelez International, Inc. (NASDAQ:MDLZ) Holdings Cut by Abbrea Capital LLC

Abbrea Capital LLC reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 27,016 shares of the company’s stock after selling 703 shares during the period. Abbrea Capital LLC’s holdings in Mondelez International were worth $1,779,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Mondelez International by 5.4% during the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after acquiring an additional 6,696,897 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Mondelez International by 4.9% during the 4th 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 last quarter. Capital Research Global Investors raised its holdings in shares of Mondelez International by 7.3% during the 1st quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after purchasing an additional 2,206,023 shares in the last quarter. Capital World Investors lifted its stake in shares of Mondelez International by 2.2% in the 4th quarter. Capital World Investors now owns 21,562,411 shares of the company’s stock valued at $1,561,765,000 after purchasing an additional 463,738 shares during the last quarter. Finally, Norges Bank bought a new stake in Mondelez International in the fourth quarter worth $1,231,413,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Stifel Nicolaus cut their price objective on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Wells Fargo & Company decreased their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. TD Cowen dropped their price target on shares of Mondelez International from $83.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Mondelez International in a research note on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.61.

Mondelez International Stock Up 0.0 %

NASDAQ MDLZ opened at $74.38 on Friday. Mondelez International, Inc. has a twelve month low of $60.75 and a twelve month high of $77.20. The stock has a market cap of $99.36 billion, a PE ratio of 23.61, a PEG ratio of 3.01 and a beta of 0.54. The firm has a 50-day simple moving average of $69.56 and a 200 day simple moving average of $69.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.68.

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

Mondelez International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.53%. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s payout ratio is currently 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.