Procyon Advisors LLC Sells 12,581 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Procyon Advisors LLC reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 29.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,003 shares of the company’s stock after selling 12,581 shares during the quarter. Procyon Advisors LLC’s holdings in Mondelez International were worth $2,211,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MDLZ. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Mondelez International in the second quarter valued at approximately $26,000. Lynx Investment Advisory purchased a new stake in Mondelez International in the second quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Mondelez International in the second quarter valued at approximately $29,000. ESL Trust Services LLC purchased a new stake in Mondelez International in the first quarter valued at approximately $38,000. Finally, Albion Financial Group UT purchased a new stake in Mondelez International in the first quarter valued at approximately $44,000. 78.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MDLZ shares. Bank of America lowered their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. DA Davidson decreased their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Finally, Evercore ISI lifted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.41.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $70.53 on Tuesday. The stock has a market cap of $94.61 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54. The firm’s fifty day simple moving average is $72.36 and its 200 day simple moving average is $69.55. Mondelez International, Inc. has a twelve month low of $61.83 and a twelve month high of $77.20. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. The business had revenue of $8.34 billion for 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 firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. As a group, research analysts predict that Mondelez International, Inc. will post 3.5 EPS for the current year.

Mondelez International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, September 30th. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s payout ratio is 59.68%.

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.