Convergence Financial LLC Reduces Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Convergence Financial LLC cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 30.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,347 shares of the company’s stock after selling 1,872 shares during the period. Convergence Financial LLC’s holdings in Mondelez International were worth $320,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Axiom Advisory LLC lifted its holdings in Mondelez International by 1.6% during the third quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock valued at $643,000 after purchasing an additional 143 shares in the last quarter. Cadence Bank lifted its holdings in Mondelez International by 1.3% during the first quarter. Cadence Bank now owns 11,489 shares of the company’s stock valued at $804,000 after purchasing an additional 148 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in Mondelez International by 2.6% during the first quarter. Evermay Wealth Management LLC now owns 5,812 shares of the company’s stock valued at $409,000 after purchasing an additional 149 shares in the last quarter. Sachetta LLC lifted its holdings in Mondelez International by 14.0% during the second quarter. Sachetta LLC now owns 1,215 shares of the company’s stock valued at $81,000 after purchasing an additional 149 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in Mondelez International by 1.4% during the third quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after purchasing an additional 151 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Trading Down 1.0 %

NASDAQ MDLZ opened at $69.23 on Friday. The firm has a 50 day simple moving average of $72.55 and a 200-day simple moving average of $69.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.68. Mondelez International, Inc. has a one year low of $64.18 and a one year high of $77.20. The firm has a market cap of $92.86 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.98 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The business had revenue of $8.34 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts anticipate that Mondelez International, Inc. will post 3.49 EPS for the current fiscal year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were paid a $0.47 dividend. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, September 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.72%. Mondelez International’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

MDLZ has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Evercore ISI increased their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Mondelez International in a research report on Tuesday. They issued a “buy” rating and a $82.00 target price for the company. Barclays reduced their target price on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Finally, 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 report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.35.

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.