Envestnet Portfolio Solutions Inc. Reduces Holdings in Mondelez International, Inc. $MDLZ

Envestnet Portfolio Solutions Inc. reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 24.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,411 shares of the company’s stock after selling 58,426 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Mondelez International were worth $12,302,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MDLZ. Price T Rowe Associates Inc. MD grew its stake in Mondelez International by 90.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company’s stock valued at $1,968,811,000 after purchasing an additional 13,755,181 shares in the last quarter. Nuveen LLC purchased a new position in shares of Mondelez International during the 1st quarter valued at approximately $866,843,000. Invesco Ltd. grew its position in shares of Mondelez International by 1.1% during the first quarter. Invesco Ltd. now owns 12,547,186 shares of the company’s stock worth $851,327,000 after buying an additional 137,604 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Mondelez International by 57.6% in the first quarter. Goldman Sachs Group Inc. now owns 9,446,774 shares of the company’s stock worth $640,964,000 after buying an additional 3,454,174 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in Mondelez International by 1.5% in the first quarter. Bahl & Gaynor Inc. now owns 6,147,235 shares of the company’s stock valued at $417,090,000 after acquiring an additional 89,362 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of MDLZ stock opened at $61.17 on Tuesday. The company has a market cap of $79.15 billion, a P/E ratio of 22.41, a PEG ratio of 4.65 and a beta of 0.45. The business has a 50 day moving average of $62.24 and a two-hundred day moving average of $65.39. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $72.70. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 0.69.

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

Mondelez International Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDLZ. Barclays raised their price objective on shares of Mondelez International from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Stifel Nicolaus lifted their price target on Mondelez International from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein upped their price objective on Mondelez International from $79.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Jefferies Financial Group raised Mondelez International from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $78.00 in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. began coverage on Mondelez International in a report on Wednesday, August 20th. They issued an “overweight” rating and a $75.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.55.

Mondelez International 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.