Cornerstone Wealth Group LLC Increases Stock Position in Mondelez International, Inc. $MDLZ

Cornerstone Wealth Group LLC raised its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 8.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,460 shares of the company’s stock after buying an additional 686 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Mondelez International were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hemington Wealth Management raised its stake in Mondelez International by 11.4% during the 1st quarter. Hemington Wealth Management now owns 1,519 shares of the company’s stock valued at $103,000 after buying an additional 156 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Mondelez International by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 15,959 shares of the company’s stock valued at $1,083,000 after buying an additional 160 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in Mondelez International by 37.2% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 601 shares of the company’s stock valued at $41,000 after buying an additional 163 shares during the last quarter. Sound Income Strategies LLC raised its stake in Mondelez International by 11.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,688 shares of the company’s stock valued at $115,000 after buying an additional 168 shares during the last quarter. Finally, Enterprise Bank & Trust Co raised its stake in Mondelez International by 0.7% during the 2nd quarter. Enterprise Bank & Trust Co now owns 23,964 shares of the company’s stock valued at $1,616,000 after buying an additional 170 shares during the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDLZ. Morgan Stanley decreased their target price on shares of Mondelez International from $73.00 to $71.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company cut their price objective on shares of Mondelez International from $78.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Jefferies Financial Group raised shares of Mondelez International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $78.00 in a research report on Thursday, July 17th. Dbs Bank raised shares of Mondelez International from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 1st. Finally, UBS Group cut their price objective on shares of Mondelez International from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.89.

Mondelez International Trading Up 1.6%

Shares of Mondelez International stock opened at $62.13 on Wednesday. The company has a market capitalization of $80.39 billion, a P/E ratio of 22.76, a P/E/G ratio of 4.63 and a beta of 0.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. The company has a fifty day moving average of $62.23 and a 200 day moving average of $65.37. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $72.70.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, April 11th. The company reported $0.66 earnings per share for the quarter. The company had revenue of $7.30 billion during the quarter. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. On average, sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. This is an increase from Mondelez International’s previous quarterly dividend of $0.47. Mondelez International’s payout ratio is currently 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.