Prosperity Consulting Group LLC Trims Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Prosperity Consulting Group LLC reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 25.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,650 shares of the company’s stock after selling 1,590 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Mondelez International were worth $304,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Mondelez International in the fourth quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Mondelez International during the 2nd quarter worth approximately $26,000. Lynx Investment Advisory acquired a new stake in shares of Mondelez International during the 2nd quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Mondelez International during the 2nd quarter valued at approximately $29,000. Finally, Transcendent Capital Group LLC acquired a new position in Mondelez International in the fourth quarter valued at approximately $34,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. DA Davidson reduced their target price on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Mondelez International in a research report on Monday, August 12th. They issued a “buy” rating and a $80.00 target price on the stock. Sanford C. Bernstein dropped 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, Piper Sandler decreased their price objective on shares of Mondelez International from $78.00 to $76.00 and set an “overweight” rating on the stock in a report 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.61.

Mondelez International Price Performance

MDLZ stock opened at $75.26 on Monday. The business’s 50-day moving average is $69.72 and its two-hundred day moving average is $69.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.50. The firm has a market capitalization of $100.95 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.01 and a beta of 0.54. Mondelez International, Inc. has a 1 year low of $60.75 and a 1 year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. Analysts anticipate that Mondelez International, Inc. will post 3.49 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be given a dividend of $0.47 per share. 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 2.50%. The ex-dividend date is Monday, September 30th. Mondelez International’s payout ratio is 59.68%.

Mondelez International Company 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.