Carnegie Investment Counsel Sells 823 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Carnegie Investment Counsel lowered its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,856 shares of the company’s stock after selling 823 shares during the quarter. Carnegie Investment Counsel’s holdings in Mondelez International were worth $710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC increased its stake in shares of Mondelez International by 29.6% in the 2nd quarter. Pallas Capital Advisors LLC now owns 11,024 shares of the company’s stock valued at $738,000 after acquiring an additional 2,516 shares during the last quarter. Dakota Wealth Management grew its holdings in shares of Mondelez International by 1.6% in the 2nd quarter. Dakota Wealth Management now owns 49,612 shares of the company’s stock valued at $3,256,000 after buying an additional 771 shares during the period. Colonial River Wealth Management LLC raised its stake in Mondelez International by 32.6% during the 2nd quarter. Colonial River Wealth Management LLC now owns 8,014 shares of the company’s stock worth $524,000 after buying an additional 1,968 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Mondelez International by 0.4% during the second quarter. First Citizens Bank & Trust Co. now owns 134,341 shares of the company’s stock worth $8,791,000 after acquiring an additional 537 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Mondelez International by 32.8% in the second quarter. China Universal Asset Management Co. Ltd. now owns 8,065 shares of the company’s stock valued at $531,000 after acquiring an additional 1,992 shares during the period. Institutional investors own 78.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDLZ. Deutsche Bank Aktiengesellschaft cut their price target on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Wells Fargo & Company reduced their target price on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price target on Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. DA Davidson cut their price target on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler decreased their price objective on Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.61.

Mondelez International Stock Performance

NASDAQ MDLZ traded up $0.23 during trading on Wednesday, reaching $71.21. 845,490 shares of the company’s stock were exchanged, compared to its average volume of 7,127,107. Mondelez International, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $77.20. The stock has a market capitalization of $95.52 billion, a P/E ratio of 22.53, a PEG ratio of 2.76 and a beta of 0.53. The business has a 50 day moving average price of $67.34 and a 200-day moving average price of $69.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.63.

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

Mondelez International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Monday, September 30th. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s payout ratio is currently 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.