Burke & Herbert Bank & Trust Co. Decreases Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Burke & Herbert Bank & Trust Co. lowered its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,565 shares of the company’s stock after selling 150 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Mondelez International were worth $999,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new position in Mondelez International in the 2nd quarter valued at about $26,000. Lynx Investment Advisory acquired a new stake in Mondelez International during the 2nd quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Mondelez International during the 2nd quarter worth approximately $29,000. ESL Trust Services LLC acquired a new position in shares of Mondelez International in the 1st quarter valued at approximately $38,000. Finally, Albion Financial Group UT purchased a new position in shares of Mondelez International during the 1st quarter valued at approximately $44,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of MDLZ traded up $0.06 during mid-day trading on Friday, reaching $70.01. 311,301 shares of the company’s stock traded hands, compared to its average volume of 6,739,115. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.68. The business’s 50-day moving average price is $72.56 and its 200-day moving average price is $69.67. The stock has a market capitalization of $93.91 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54. Mondelez International, Inc. has a 12 month low of $64.18 and a 12 month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. The firm had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.45 billion. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. Equities analysts predict that Mondelez International, Inc. will post 3.5 earnings per share for the current year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. DA Davidson cut their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Citigroup increased their price target on shares of Mondelez International from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler cut their price objective on Mondelez International from $76.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday. Sanford C. Bernstein decreased their target price on Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Evercore ISI upped their price target on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.