Mondelez International, Inc. $MDLZ Position Reduced by Conning Inc.

Conning Inc. cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 4.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 518,924 shares of the company’s stock after selling 22,054 shares during the period. Conning Inc.’s holdings in Mondelez International were worth $34,996,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Hemington Wealth Management lifted its stake in Mondelez International by 11.4% during the first quarter. Hemington Wealth Management now owns 1,519 shares of the company’s stock valued at $103,000 after buying an additional 156 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Mondelez International by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 15,959 shares of the company’s stock worth $1,083,000 after purchasing an additional 160 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Mondelez International by 37.2% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 601 shares of the company’s stock worth $41,000 after purchasing an additional 163 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Mondelez International by 11.1% in the first quarter. Sound Income Strategies LLC now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 168 shares in the last quarter. Finally, Enterprise Bank & Trust Co lifted its position in shares of Mondelez International by 0.7% in the second quarter. Enterprise Bank & Trust Co now owns 23,964 shares of the company’s stock worth $1,616,000 after purchasing an additional 170 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDLZ. Berenberg Bank lowered shares of Mondelez International from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a research report on Thursday, October 2nd. JPMorgan Chase & Co. began coverage on shares of Mondelez International in a research report on Wednesday, August 20th. They issued an “overweight” rating and a $75.00 price target for the company. Sanford C. Bernstein increased their price target on shares of Mondelez International from $79.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Mondelez International in a research report on Saturday, September 27th. Finally, Piper Sandler increased their price target on shares of Mondelez International from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Mondelez International currently has an average rating of “Moderate Buy” and an average price target of $71.55.

Mondelez International Price Performance

Shares of MDLZ opened at $61.45 on Friday. The firm has a market cap of $79.51 billion, a PE ratio of 22.51, a PEG ratio of 4.62 and a beta of 0.45. The firm’s 50 day moving average price is $62.28 and its 200 day moving average price is $65.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $72.70.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $0.66 earnings per share for the quarter. The firm had revenue of $7.30 billion for the quarter. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. As a group, research analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.50 dividend. This is a positive change from Mondelez International’s previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Mondelez International’s payout ratio is 73.26%.

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.