Pinnacle West Asset Management Inc. Has $599,000 Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Pinnacle West Asset Management Inc. increased its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,130 shares of the company’s stock after acquiring an additional 210 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Mondelez International were worth $599,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. bought a new stake in Mondelez International during the second quarter valued at about $26,000. Lynx Investment Advisory acquired a new stake in Mondelez International in the 2nd quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Mondelez International in the 2nd quarter worth approximately $29,000. ESL Trust Services LLC acquired a new position in shares of Mondelez International during the first quarter worth approximately $38,000. Finally, Albion Financial Group UT bought a new stake in shares of Mondelez International in the first quarter valued at approximately $44,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Price Performance

Shares of MDLZ traded down $0.24 on Thursday, hitting $70.32. The company’s stock had a trading volume of 1,277,456 shares, compared to its average volume of 6,753,428. The company has a 50 day moving average price of $72.56 and a 200 day moving average price of $69.67. Mondelez International, Inc. has a fifty-two week low of $64.18 and a fifty-two week high of $77.20. The company has a market capitalization of $94.32 billion, a PE ratio of 22.40, a PEG ratio of 2.87 and a beta of 0.54. 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 (NASDAQ:MDLZ) last announced its earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. The company 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 business earned $0.76 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, research analysts anticipate that Mondelez International, Inc. will post 3.5 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. 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 2.67%. Mondelez International’s payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several equities analysts recently commented on MDLZ shares. Sanford C. Bernstein cut their target price 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. Citigroup increased their target price on shares of Mondelez International from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America upped their price target on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Barclays decreased their price objective on Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Finally, Redburn Atlantic began coverage on Mondelez International in a research report on Tuesday. They issued a “buy” rating and a $82.00 target price for the company. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mondelez International currently has an average rating of “Moderate Buy” and a consensus price target of $78.94.

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.