Power Corp of Canada Takes Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Posted by Defense World Staff on Mar 16th, 2023

Power Corp of Canada acquired a new position in shares of Mondelez International, Inc. (NASDAQ:MDLZ – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,554 shares of the company’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDLZ. Fairfield Bush & CO. purchased a new position in Mondelez International in the 1st quarter valued at approximately $100,000. United Bank boosted its position in Mondelez International by 4.6% in the 1st quarter. United Bank now owns 27,006 shares of the company’s stock valued at $1,695,000 after buying an additional 1,189 shares during the period. Cetera Investment Advisers boosted its position in Mondelez International by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 28,390 shares of the company’s stock valued at $1,782,000 after buying an additional 1,085 shares during the period. Dakota Wealth Management purchased a new position in Mondelez International in the 1st quarter valued at approximately $561,000. Finally, Covestor Ltd boosted its position in Mondelez International by 69.0% in the 1st quarter. Covestor Ltd now owns 1,269 shares of the company’s stock valued at $80,000 after buying an additional 518 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Mondelez International Stock Up 0.2 %

MDLZ stock opened at $66.40 on Thursday. The company has a market cap of $90.52 billion, a P/E ratio of 33.88, a P/E/G ratio of 2.87 and a beta of 0.65. Mondelez International, Inc. has a 52 week low of $54.72 and a 52 week high of $68.81. The company’s 50-day moving average price is $65.73 and its 200 day moving average price is $63.66. The company has a current ratio of 0.60, a quick ratio of 0.40 and a debt-to-equity ratio of 0.75.

Mondelez International (NASDAQ:MDLZ – Get Rating) last announced its earnings results on Tuesday, January 31st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.30 billion. Mondelez International had a net margin of 8.63% and a return on equity of 15.04%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. On average, research analysts expect that Mondelez International, Inc. will post 3.17 earnings per share for the current fiscal year.

Mondelez International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, March 30th. Mondelez International’s dividend payout ratio (DPR) is 78.57%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDLZ. Barclays raised their price objective on shares of Mondelez International from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Wells Fargo & Company raised their price objective on shares of Mondelez International from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mondelez International from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 6th. Royal Bank of Canada lowered shares of Mondelez International from an “outperform” rating to a “sector perform” rating and set a $69.00 price objective on the stock. in a report on Tuesday, January 3rd. Finally, StockNews.com began coverage on shares of Mondelez International in a report on Thursday. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.06.

Mondelez International Company Profile

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Mondelez International, Inc engages in the manufacture and marketing of snack food and beverage products. It operates through the following geographical segments: Latin America, Asia, Middle East, and Africa, Europe, and North America. Its products include beverages, biscuits, chocolate, gum and candy, cheese and grocery, and meals.