Miracle Mile Advisors LLC Reduces Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Miracle Mile Advisors LLC cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,659 shares of the company’s stock after selling 332 shares during the period. Miracle Mile Advisors LLC’s holdings in Mondelez International were worth $343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gotham Asset Management LLC lifted its holdings in Mondelez International by 10.4% in the fourth quarter. Gotham Asset Management LLC now owns 174,831 shares of the company’s stock valued at $12,663,000 after acquiring an additional 16,450 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Mondelez International during the 1st quarter worth $1,686,000. Alaska Permanent Fund Corp grew its holdings in shares of Mondelez International by 76.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 63,202 shares of the company’s stock worth $4,424,000 after purchasing an additional 27,370 shares during the period. GLOBALT Investments LLC GA acquired a new stake in shares of Mondelez International during the 4th quarter worth about $5,290,000. Finally, Duality Advisers LP purchased a new stake in Mondelez International in the 1st quarter valued at about $4,528,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Down 0.2 %

Shares of Mondelez International stock opened at $70.85 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Mondelez International, Inc. has a 52-week low of $60.75 and a 52-week high of $77.20. The company has a market capitalization of $95.04 billion, a P/E ratio of 22.49, a P/E/G ratio of 3.02 and a beta of 0.54. The company has a 50 day moving average of $72.14 and a 200 day moving average of $69.55.

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

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Stockholders 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 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, September 30th. Mondelez International’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MDLZ. Evercore ISI increased their target price on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Bank of America cut their target price on Mondelez International from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. DA Davidson decreased their price target on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note 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 for the company in a research note on Wednesday, July 17th. Finally, Piper Sandler decreased their target price on Mondelez International from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Mondelez International has a consensus rating of “Moderate Buy” and an average price target of $78.65.

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.