Allspring Global Investments Holdings LLC Raises Stock Position in Mondelez International, Inc. $MDLZ

Allspring Global Investments Holdings LLC raised its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 24.0% during the second quarter, Holdings Channel reports. The firm owned 1,723,105 shares of the company’s stock after buying an additional 333,578 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mondelez International were worth $118,825,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Clarendon Private LLC increased its position in Mondelez International by 22.8% during the 2nd quarter. Clarendon Private LLC now owns 6,937 shares of the company’s stock valued at $468,000 after purchasing an additional 1,289 shares during the period. CWM LLC increased its position in Mondelez International by 22.3% during the 2nd quarter. CWM LLC now owns 141,247 shares of the company’s stock valued at $9,526,000 after purchasing an additional 25,787 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Mondelez International by 24.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 219,583 shares of the company’s stock valued at $14,809,000 after purchasing an additional 42,579 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Mondelez International by 0.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,434 shares of the company’s stock worth $3,604,000 after buying an additional 493 shares during the period. Finally, Apollon Wealth Management LLC grew its position in shares of Mondelez International by 5.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 113,581 shares of the company’s stock worth $7,660,000 after buying an additional 5,375 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of MDLZ stock opened at $61.17 on Tuesday. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $72.70. The company’s 50-day moving average is $62.24 and its 200 day moving average is $65.39. The company has a market capitalization of $79.15 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 4.65 and a beta of 0.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, April 11th. The company reported $0.66 EPS for the quarter. Mondelez International had a net margin of 9.84% and a return on equity of 15.35%. The company had revenue of $7.30 billion for the quarter. Sell-side analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.3%. This is an increase from Mondelez International’s previous quarterly dividend of $0.47. Mondelez International’s dividend payout ratio (DPR) is currently 73.26%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDLZ. Berenberg Bank downgraded shares of Mondelez International from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research report on Thursday, October 2nd. JPMorgan Chase & Co. began coverage on shares of Mondelez International in a research report on Wednesday, August 20th. They issued an “overweight” rating and a $75.00 target price on the stock. Piper Sandler upped their target price on shares of Mondelez International from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Sanford C. Bernstein upped their target price on shares of Mondelez International from $79.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group raised shares of Mondelez International from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $78.00 in a research report on Thursday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mondelez International presently has an average rating of “Moderate Buy” and a consensus price target of $71.55.

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.