Cullinan Associates Inc. Cuts Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Cullinan Associates Inc. trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,253 shares of the company’s stock after selling 1,500 shares during the quarter. Cullinan Associates Inc.’s holdings in Mondelez International were worth $3,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Mondelez International by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after buying an additional 6,696,897 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Mondelez International by 40.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after acquiring an additional 4,794,746 shares in the last quarter. Capital Research Global Investors boosted its holdings in Mondelez International by 7.3% in the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after purchasing an additional 2,206,023 shares during the period. Wulff Hansen & CO. grew its stake in Mondelez International by 6,311.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company’s stock worth $114,575,000 after purchasing an additional 1,723,537 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Mondelez International by 231.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,804,722 shares of the company’s stock worth $118,101,000 after purchasing an additional 1,260,124 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Mondelez International stock traded up $0.06 during mid-day trading on Friday, reaching $70.01. 311,301 shares of the company were exchanged, compared to its average volume of 6,739,115. The firm has a market cap of $93.91 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.68. Mondelez International, Inc. has a twelve month low of $64.18 and a twelve month high of $77.20. The firm’s 50-day simple moving average is $72.56 and its two-hundred day simple moving average is $69.67.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results 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. The business had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. Equities analysts predict that Mondelez International, Inc. will post 3.5 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors 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 yield of 2.69%. The ex-dividend date was Monday, September 30th. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDLZ. Sanford C. Bernstein decreased their price target on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Bank of America increased their target price on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Redburn Atlantic started coverage on Mondelez International in a research note on Tuesday. They set a “buy” rating and a $82.00 target price for the company. Piper Sandler cut their price objective on shares of Mondelez International from $76.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus lowered their target price on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.94.

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.