Burgundy Asset Management Ltd. Acquires 310,994 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Burgundy Asset Management Ltd. grew its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,177,976 shares of the company’s stock after buying an additional 310,994 shares during the quarter. Mondelez International comprises 2.2% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 9th biggest holding. Burgundy Asset Management Ltd. owned 0.24% of Mondelez International worth $207,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Mondelez International by 5.4% in the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after acquiring an additional 6,696,897 shares during the period. Capital Research Global Investors lifted its stake in shares of Mondelez International by 26.9% in the fourth quarter. Capital Research Global Investors now owns 30,291,001 shares of the company’s stock valued at $2,193,977,000 after purchasing an additional 6,426,928 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Mondelez International by 40.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock worth $1,094,557,000 after buying an additional 4,794,746 shares in the last quarter. First Trust Advisors LP grew its position in Mondelez International by 152.3% during the fourth quarter. First Trust Advisors LP now owns 4,114,581 shares of the company’s stock worth $298,019,000 after buying an additional 2,483,972 shares during the period. Finally, Wulff Hansen & CO. increased its holdings in Mondelez International by 6,311.0% in the second quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company’s stock valued at $114,575,000 after buying an additional 1,723,537 shares in the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price target on Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Stifel Nicolaus lowered their target price on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Sanford C. Bernstein cut their price target on Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. The Goldman Sachs Group started coverage on shares of Mondelez International in a research note on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.61.

Mondelez International Trading Down 0.1 %

Shares of MDLZ stock opened at $75.05 on Thursday. The firm’s 50-day simple moving average is $70.29 and its 200-day simple moving average is $69.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.50. Mondelez International, Inc. has a 1-year low of $60.75 and a 1-year high of $77.20. The firm has a market cap of $100.67 billion, a P/E ratio of 23.83, a PEG ratio of 3.01 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The company had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the business earned $0.76 EPS. Mondelez International’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts forecast that Mondelez International, Inc. will post 3.49 EPS for the current year.

Mondelez International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, September 30th. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s payout ratio is 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.