Bank Pictet & Cie Europe AG Sells 9,069 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Bank Pictet & Cie Europe AG trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 331,288 shares of the company’s stock after selling 9,069 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Mondelez International were worth $24,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Community Trust & Investment Co. raised its position in shares of Mondelez International by 3.7% during the 3rd quarter. Community Trust & Investment Co. now owns 156,262 shares of the company’s stock valued at $11,512,000 after buying an additional 5,558 shares in the last quarter. Private Advisor Group LLC increased its stake in Mondelez International by 9.8% in the third quarter. Private Advisor Group LLC now owns 62,687 shares of the company’s stock valued at $4,618,000 after acquiring an additional 5,585 shares during the last quarter. BLB&B Advisors LLC raised its position in Mondelez International by 6.2% during the third quarter. BLB&B Advisors LLC now owns 10,236 shares of the company’s stock valued at $754,000 after purchasing an additional 602 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in Mondelez International during the third quarter valued at about $431,000. Finally, Eastern Bank bought a new stake in Mondelez International during the third quarter worth about $19,156,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDLZ has been the topic of a number of research reports. Piper Sandler decreased their price objective on Mondelez International from $76.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America lifted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein cut their price target on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and an average price target of $78.94.

Mondelez International Price Performance

Shares of Mondelez International stock opened at $71.35 on Wednesday. The company has a market cap of $95.71 billion, a PE ratio of 22.65, a P/E/G ratio of 2.87 and a beta of 0.54. The business has a 50 day moving average of $72.57 and a 200 day moving average of $69.66. Mondelez International, Inc. has a 52 week low of $63.66 and a 52 week high of $77.20. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The firm had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same period last year, the company posted $0.76 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Mondelez International, Inc. will post 3.5 earnings per share for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a dividend of $0.47 per share. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.63%. Mondelez International’s dividend payout ratio is 59.68%.

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.