Prio Wealth Limited Partnership Sells 7,590 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Prio Wealth Limited Partnership lowered its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,680 shares of the company’s stock after selling 7,590 shares during the period. Prio Wealth Limited Partnership’s holdings in Mondelez International were worth $8,552,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Mondelez International in the fourth quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Mondelez International in the 2nd quarter valued at about $26,000. Lynx Investment Advisory purchased a new stake in Mondelez International during the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Mondelez International during the second quarter worth about $29,000. Finally, Transcendent Capital Group LLC bought a new position in Mondelez International during the fourth quarter worth about $34,000. Institutional investors own 78.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Mondelez International in a research report on Monday, August 12th. They issued a “buy” rating and a $80.00 price target on the stock. Wells Fargo & Company dropped their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price target on Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein dropped their price objective on Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Evercore ISI raised their target price on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.65.

Mondelez International Trading Down 0.9 %

Shares of Mondelez International stock opened at $72.99 on Wednesday. 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 $97.91 billion, a PE ratio of 23.17, a PEG ratio of 3.02 and a beta of 0.54. The company has a 50 day simple moving average of $71.75 and a two-hundred day simple moving average of $69.56.

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

Mondelez International Increases Dividend

The firm 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 is a boost from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Monday, September 30th. Mondelez International’s dividend payout ratio (DPR) is presently 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.