Congress Asset Management Co. Raises Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Congress Asset Management Co. lifted its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 34.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,004 shares of the company’s stock after buying an additional 36,095 shares during the quarter. Congress Asset Management Co.’s holdings in Mondelez International were worth $9,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Mondelez International by 92.4% in the fourth quarter. Brighton Jones LLC now owns 14,631 shares of the company’s stock worth $874,000 after acquiring an additional 7,025 shares during the last quarter. Telos Capital Management Inc. increased its stake in shares of Mondelez International by 8.8% in the fourth quarter. Telos Capital Management Inc. now owns 4,516 shares of the company’s stock worth $270,000 after buying an additional 365 shares during the last quarter. Leo Wealth LLC increased its stake in shares of Mondelez International by 14.3% in the fourth quarter. Leo Wealth LLC now owns 9,548 shares of the company’s stock worth $570,000 after buying an additional 1,195 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Mondelez International in the fourth quarter worth $1,682,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Mondelez International by 0.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,465,809 shares of the company’s stock worth $207,013,000 after buying an additional 20,085 shares during the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Trading Down 0.3%

Shares of NASDAQ MDLZ opened at $66.15 on Friday. The stock has a market cap of $85.65 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 4.34 and a beta of 0.48. The business has a 50 day simple moving average of $66.43 and a 200 day simple moving average of $63.39. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter, compared to analysts’ expectations of $9.37 billion. Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, research analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.84%. Mondelez International’s payout ratio is currently 69.89%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MDLZ shares. JPMorgan Chase & Co. boosted their target price on shares of Mondelez International from $64.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Wells Fargo & Company upped their price objective on shares of Mondelez International from $64.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 2nd. Argus downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Mondelez International in a report on Monday, April 28th. Finally, Barclays upped their price target on shares of Mondelez International from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.11.

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.