Monterey Private Wealth Inc. Trims Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Monterey Private Wealth Inc. decreased its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 19.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,323 shares of the company’s stock after selling 779 shares during the period. Monterey Private Wealth Inc.’s holdings in Mondelez International were worth $245,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MDLZ shares. Stifel Nicolaus reduced their price objective on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. The Goldman Sachs Group began coverage on shares of Mondelez International in a research report on Monday, August 12th. They set a “buy” rating and a $80.00 price target for 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 research note on Wednesday, July 17th. Bank of America decreased their price target on Mondelez International from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Piper Sandler lowered their price target on Mondelez International from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.65.

Mondelez International Stock Down 1.5 %

Shares of MDLZ stock opened at $71.16 on Friday. The company has a market capitalization of $95.45 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.02 and a beta of 0.54. 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 company’s fifty day moving average price is $71.96 and its 200-day moving average price is $69.59. Mondelez International, Inc. has a one year low of $60.75 and a one year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted 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 company 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 earnings per share. Mondelez International’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that Mondelez International, Inc. will post 3.49 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently disclosed 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. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, September 30th. Mondelez International’s payout ratio is presently 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.