Bronte Capital Management Pty Ltd. Has $4.20 Million Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Bronte Capital Management Pty Ltd. cut its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,194 shares of the company’s stock after selling 2,586 shares during the period. Mondelez International makes up approximately 0.3% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 23rd biggest position. Bronte Capital Management Pty Ltd.’s holdings in Mondelez International were worth $4,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cadence Bank boosted its holdings in shares of Mondelez International by 1.3% during the 1st quarter. Cadence Bank now owns 11,489 shares of the company’s stock worth $804,000 after buying an additional 148 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in shares of Mondelez International by 2.6% during the first quarter. Evermay Wealth Management LLC now owns 5,812 shares of the company’s stock valued at $409,000 after purchasing an additional 149 shares during the period. Sachetta LLC grew its stake in shares of Mondelez International by 14.0% in the 2nd quarter. Sachetta LLC now owns 1,215 shares of the company’s stock valued at $81,000 after buying an additional 149 shares during the period. Curbstone Financial Management Corp grew its stake in shares of Mondelez International by 2.4% in the 1st quarter. Curbstone Financial Management Corp now owns 6,520 shares of the company’s stock valued at $456,000 after buying an additional 150 shares during the period. Finally, Searle & CO. raised its stake in Mondelez International by 1.2% during the 1st quarter. Searle & CO. now owns 12,319 shares of the company’s stock worth $862,000 after buying an additional 152 shares during the period. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of Mondelez International stock opened at $75.71 on Tuesday. Mondelez International, Inc. has a 12 month low of $60.75 and a 12 month high of $77.20. The firm has a market capitalization of $101.13 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 3.05 and a beta of 0.54. The business’s fifty day simple moving average is $69.05 and its 200 day simple moving average is $69.29. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, topping 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 the consensus estimate of $8.45 billion. During the same period in the previous year, the firm earned $0.76 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts anticipate that Mondelez International, Inc. will post 3.49 EPS for the current year.

Mondelez International Increases Dividend

The business also recently announced 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 an increase from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, September 30th. Mondelez International’s dividend payout ratio is currently 53.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MDLZ shares. The Goldman Sachs Group began coverage on Mondelez International in a research note on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective for the company. Bank of America decreased their price target on shares of Mondelez International from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Evercore ISI dropped their price objective on shares of Mondelez International from $80.00 to $79.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 4th. Piper Sandler decreased their target price on shares of Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.61.

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.