Norway Savings Bank lifted its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ – Free Report) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,650 shares of the company’s stock after purchasing an additional 1,220 shares during the period. Norway Savings Bank’s holdings in Mondelez International were worth $1,652,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of MDLZ. Moneta Group Investment Advisors LLC lifted its position in shares of Mondelez International by 116,165.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,389,107 shares of the company’s stock worth $1,558,884,000 after purchasing an additional 23,368,990 shares in the last quarter. Norges Bank acquired a new position in shares of Mondelez International during the fourth quarter worth approximately $981,319,000. Price T Rowe Associates Inc. MD lifted its position in shares of Mondelez International by 17.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,603,137 shares of the company’s stock worth $2,106,349,000 after purchasing an additional 4,685,244 shares in the last quarter. Morgan Stanley lifted its position in shares of Mondelez International by 25.8% during the fourth quarter. Morgan Stanley now owns 22,750,267 shares of the company’s stock worth $1,516,305,000 after purchasing an additional 4,663,166 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Mondelez International by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,535,165 shares of the company’s stock worth $568,869,000 after purchasing an additional 4,462,003 shares in the last quarter. 76.16% of the stock is currently owned by institutional investors and hedge funds.
Mondelez International Stock Performance
Shares of Mondelez International stock traded down $0.44 during trading on Friday, hitting $71.94. 9,339,827 shares of the stock were exchanged, compared to its average volume of 6,034,668. The stock has a market capitalization of $97.87 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.64. The company has a fifty day moving average price of $72.25 and a 200-day moving average price of $72.15. Mondelez International, Inc. has a 1-year low of $54.72 and a 1-year high of $78.59. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 0.63.
Mondelez International Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.425 per share. This is an increase from Mondelez International’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 2.36%. Mondelez International’s payout ratio is presently 56.29%.
Wall Street Analysts Forecast Growth
MDLZ has been the topic of several analyst reports. Barclays increased their price objective on shares of Mondelez International from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, July 31st. TD Cowen initiated coverage on shares of Mondelez International in a report on Wednesday. They issued an “outperform” rating and a $82.00 price objective on the stock. StockNews.com lowered shares of Mondelez International from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Mondelez International from $79.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, Piper Sandler increased their price objective on shares of Mondelez International from $82.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mondelez International presently has an average rating of “Moderate Buy” and a consensus price target of $77.63.
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.
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