Mondelez International, Inc. (NASDAQ:MDLZ) Position Cut by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 10.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 43,594 shares of the company’s stock after selling 5,027 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Mondelez International were worth $2,958,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Amundi lifted its stake in Mondelez International by 20.1% in the fourth quarter. Amundi now owns 2,856,534 shares of the company’s stock valued at $166,507,000 after buying an additional 478,225 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Mondelez International by 15.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company’s stock valued at $527,000 after purchasing an additional 1,013 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Mondelez International by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 457,774 shares of the company’s stock valued at $27,343,000 after purchasing an additional 4,121 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Mondelez International during the fourth quarter valued at about $336,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Mondelez International by 23.6% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44,786 shares of the company’s stock valued at $3,039,000 after purchasing an additional 8,544 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective 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. DA Davidson cut shares of Mondelez International from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $66.00 to $68.00 in a research note on Thursday, April 24th. Barclays lifted their price objective on shares of Mondelez International from $71.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Wells Fargo & Company raised Mondelez International from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $78.00 in a report on Friday, June 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Mondelez International in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Mondelez International presently has an average rating of “Moderate Buy” and an average price target of $70.63.

Mondelez International Trading Down 1.7%

Shares of MDLZ opened at $67.28 on Thursday. The business’s 50-day moving average price is $66.71 and its 200 day moving average price is $63.65. The stock has a market capitalization of $87.11 billion, a P/E ratio of 25.01, a P/E/G ratio of 5.30 and a beta of 0.48. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 0.61.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter, compared to analysts’ expectations of $9.37 billion. Mondelez International had a return on equity of 15.94% and a net margin of 9.90%. Mondelez International’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. Analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.47 dividend. 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 2.79%. Mondelez International’s dividend payout ratio is currently 69.89%.

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.