Kentucky Retirement Systems Sells 1,175 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Kentucky Retirement Systems trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 101,080 shares of the company’s stock after selling 1,175 shares during the period. Kentucky Retirement Systems’ holdings in Mondelez International were worth $6,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Mondelez International during the fourth quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Mondelez International during the 2nd quarter valued at $26,000. Lynx Investment Advisory bought a new stake in shares of Mondelez International in the 2nd quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Mondelez International in the second quarter worth $29,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Mondelez International during the fourth quarter valued at $34,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $75.05 on Thursday. The company has a market capitalization of $100.67 billion, a P/E ratio of 23.83, 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. The firm’s 50 day simple moving average is $70.29 and its two-hundred day simple moving average is $69.40. 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 (NASDAQ:MDLZ) last released its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. Mondelez International’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. Research analysts expect that Mondelez International, Inc. will post 3.49 EPS for the current fiscal year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be paid a $0.47 dividend. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.50%. Mondelez International’s dividend payout ratio is 59.68%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Mondelez International from $78.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company decreased their price objective on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Sanford C. Bernstein lowered their price objective on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. TD Cowen cut their target price on shares of Mondelez International from $83.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. boosted their target price 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. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.61.

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.