First Interstate Bank Sells 3,701 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

First Interstate Bank reduced its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 5.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 66,105 shares of the company’s stock after selling 3,701 shares during the quarter. First Interstate Bank’s holdings in Mondelez International were worth $4,485,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MDLZ. Abound Financial LLC purchased a new position in shares of Mondelez International in the 1st quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new stake in Mondelez International in the first quarter worth about $26,000. Transce3nd LLC purchased a new position in shares of Mondelez International during the fourth quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of Mondelez International in the 4th quarter worth approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Mondelez International by 376.1% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company’s stock valued at $30,000 after buying an additional 346 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDLZ. Evercore ISI boosted their target price on Mondelez International from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, April 23rd. Morgan Stanley upped their target price on shares of Mondelez International from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Barclays upped their price target on Mondelez International from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Piper Sandler boosted their target price on shares of Mondelez International from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company upgraded shares of Mondelez International from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $78.00 in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.63.

Mondelez International Price Performance

Shares of MDLZ traded down $0.34 during midday trading on Wednesday, hitting $67.86. 538,979 shares of the company traded hands, compared to its average volume of 9,167,679. The firm has a 50 day moving average of $67.04 and a 200-day moving average of $64.12. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06. The stock has a market cap of $87.86 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 5.33 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.40 and a current ratio of 0.61.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter, compared to the consensus estimate of $9.37 billion. Mondelez International had a return on equity of 15.94% and a net margin of 9.90%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. On average, analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, June 30th. Mondelez International’s dividend payout ratio is presently 69.89%.

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.