Forsta AP Fonden Sells 24,800 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Forsta AP Fonden reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZGet Rating) by 9.3% in the first quarter, HoldingsChannel.com reports. The fund owned 242,600 shares of the company’s stock after selling 24,800 shares during the quarter. Forsta AP Fonden’s holdings in Mondelez International were worth $15,230,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Shufro Rose & Co. LLC bought a new stake in Mondelez International in the first quarter worth $276,000. Lincoln National Corp lifted its stake in Mondelez International by 8.4% in the first quarter. Lincoln National Corp now owns 13,613 shares of the company’s stock worth $855,000 after purchasing an additional 1,053 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Mondelez International by 7.1% in the first quarter. Checchi Capital Advisers LLC now owns 15,661 shares of the company’s stock worth $983,000 after purchasing an additional 1,032 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its stake in Mondelez International by 2.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 34,858 shares of the company’s stock worth $2,188,000 after purchasing an additional 691 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Mondelez International by 8.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 844,059 shares of the company’s stock worth $52,990,000 after purchasing an additional 69,030 shares during the last quarter. 77.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on MDLZ shares. Sanford C. Bernstein upped their price objective on shares of Mondelez International to $79.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Credit Suisse Group started coverage on shares of Mondelez International in a research note on Tuesday, April 12th. They set an “outperform” rating and a $70.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Mondelez International from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, April 13th. Piper Sandler lowered their price objective on shares of Mondelez International to $72.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Mondelez International from $73.00 to $70.00 in a research note on Monday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.18.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $63.77 on Friday. Mondelez International, Inc. has a 1 year low of $57.63 and a 1 year high of $69.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.68 and a quick ratio of 0.45. The company’s 50-day moving average is $62.05 and its 200 day moving average is $63.60. The stock has a market capitalization of $87.40 billion, a P/E ratio of 23.19, a P/E/G ratio of 3.20 and a beta of 0.60.

Mondelez International (NASDAQ:MDLZGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. Mondelez International had a net margin of 12.93% and a return on equity of 14.67%. During the same quarter in the previous year, the company earned $0.66 EPS. On average, sell-side analysts expect that Mondelez International, Inc. will post 2.91 earnings per share for the current year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Mondelez International’s previous quarterly dividend of $0.35. Mondelez International’s dividend payout ratio is 50.91%.

Insiders Place Their Bets

In other Mondelez International news, EVP Robin S. Hargrove sold 30,500 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $65.86, for a total value of $2,008,730.00. Following the sale, the executive vice president now owns 32,024 shares in the company, valued at $2,109,100.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.

About Mondelez International

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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, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.

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Institutional Ownership by Quarter for Mondelez International (NASDAQ:MDLZ)

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