Sumitomo Life Insurance Co. Sells 3,122 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Sumitomo Life Insurance Co. lessened its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 11.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,376 shares of the company’s stock after selling 3,122 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Mondelez International were worth $1,595,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. SageView Advisory Group LLC bought a new stake in Mondelez International during the fourth quarter worth $907,000. AGF Management Ltd. increased its holdings in shares of Mondelez International by 32.9% in the fourth quarter. AGF Management Ltd. now owns 1,735,233 shares of the company’s stock valued at $125,683,000 after purchasing an additional 429,936 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Mondelez International by 1.1% in the fourth quarter. Bahl & Gaynor Inc. now owns 5,832,772 shares of the company’s stock valued at $422,468,000 after purchasing an additional 62,595 shares during the last quarter. Gotham Asset Management LLC increased its holdings in shares of Mondelez International by 10.4% in the fourth quarter. Gotham Asset Management LLC now owns 174,831 shares of the company’s stock valued at $12,663,000 after purchasing an additional 16,450 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Mondelez International in the first quarter valued at $1,686,000. Institutional investors own 78.32% of the company’s stock.

Analyst Ratings Changes

MDLZ has been the topic of several research reports. DA Davidson decreased their price objective on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price target on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Sanford C. Bernstein decreased their price target on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Bank of America decreased their price target on shares of Mondelez International from $82.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.61.

Mondelez International Price Performance

Mondelez International stock traded down $0.16 during trading hours on Friday, reaching $70.12. 5,130,941 shares of the stock were exchanged, compared to its average volume of 7,208,019. The company has a market cap of $94.06 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.58. Mondelez International, Inc. has a twelve month low of $60.75 and a twelve month high of $77.20. The stock has a 50 day moving average of $67.20 and a two-hundred day moving average of $69.49.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The firm had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. Equities analysts expect that Mondelez International, Inc. will post 3.49 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s dividend payout ratio is 59.68%.

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.