Essex Financial Services Inc. Sells 4,434 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Essex Financial Services Inc. lessened its position in shares of Mondelez International, Inc. (NASDAQ:MDLZFree Report) by 24.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,964 shares of the company’s stock after selling 4,434 shares during the period. Essex Financial Services Inc.’s holdings in Mondelez International were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Mondelez International in the fourth quarter valued at $1,118,755,000. Capital Research Global Investors increased its stake in Mondelez International by 13.9% in the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company’s stock valued at $2,241,637,000 after purchasing an additional 4,572,555 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Mondelez International in the fourth quarter valued at $256,832,000. Vaughan Nelson Investment Management L.P. bought a new stake in Mondelez International in the first quarter valued at $189,930,000. Finally, Deutsche Bank AG increased its stake in Mondelez International by 17.1% in the fourth quarter. Deutsche Bank AG now owns 13,734,080 shares of the company’s stock valued at $820,337,000 after purchasing an additional 2,002,640 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Up 0.0%

Mondelez International stock opened at $67.78 on Monday. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The stock has a market cap of $87.76 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 5.25 and a beta of 0.48. The firm’s 50-day simple moving average is $66.73 and its 200 day simple moving average is $63.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.40 and a current ratio of 0.61.

Mondelez International (NASDAQ:MDLZGet Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter, compared to analysts’ expectations of $9.37 billion. Mondelez International had a net margin of 9.90% and a return on equity of 15.94%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. Research analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, June 30th. Mondelez International’s payout ratio is 69.89%.

Analysts Set New Price Targets

Several research firms have weighed in on MDLZ. Morgan Stanley lifted their price target on shares of Mondelez International from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Piper Sandler lifted their price target on shares of Mondelez International from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Stifel Nicolaus lifted their price target on shares of Mondelez International from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Barclays lifted their price target on shares of Mondelez International from $71.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, DA Davidson downgraded shares of Mondelez International from a “buy” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $68.00 in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.63.

Get Our Latest Research Report on Mondelez International

About Mondelez International

(Free Report)

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.

Further Reading

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

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