Berkshire Asset Management LLC PA Lowers Position in Mondelez International, Inc. $MDLZ

Berkshire Asset Management LLC PA trimmed its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594,771 shares of the company’s stock after selling 520 shares during the period. Mondelez International comprises about 1.9% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 18th largest position. Berkshire Asset Management LLC PA’s holdings in Mondelez International were worth $39,981,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in Mondelez International by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 20,074,353 shares of the company’s stock valued at $1,198,491,000 after purchasing an additional 975,929 shares during the period. Northern Trust Corp grew its position in shares of Mondelez International by 6.8% in the 4th quarter. Northern Trust Corp now owns 16,252,906 shares of the company’s stock worth $970,786,000 after buying an additional 1,035,184 shares during the last quarter. Deutsche Bank AG grew its position in shares of Mondelez International by 17.1% in the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company’s stock worth $820,337,000 after buying an additional 2,002,640 shares during the last quarter. Nuveen LLC purchased a new position in shares of Mondelez International in the 1st quarter worth approximately $866,843,000. Finally, Invesco Ltd. grew its position in shares of Mondelez International by 1.1% in the 1st quarter. Invesco Ltd. now owns 12,547,186 shares of the company’s stock worth $851,327,000 after buying an additional 137,604 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ opened at $61.84 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.69. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The company has a 50 day simple moving average of $66.68 and a two-hundred day simple moving average of $65.70. The stock has a market cap of $80.02 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 4.69 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.05. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The firm had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. This is an increase from Mondelez International’s previous quarterly dividend of $0.47. Mondelez International’s dividend payout ratio (DPR) is presently 68.86%.

Analyst Upgrades and Downgrades

MDLZ has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Mondelez International from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective on shares of Mondelez International from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Sanford C. Bernstein lifted their price objective on shares of Mondelez International from $79.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Jefferies Financial Group raised shares of Mondelez International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $78.00 in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Mondelez International in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and a consensus target price of $71.95.

Mondelez International Company 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.