Palisade Capital Management LLC NJ Sells 536 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Posted by Jared Coughlin on Aug 6th, 2022

Palisade Capital Management LLC NJ cut its stake in Mondelez International, Inc. (NASDAQ:MDLZ – Get Rating) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,703 shares of the company’s stock after selling 536 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Mondelez International were worth $8,582,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDLZ. Bivin & Associates Inc. bought a new position in Mondelez International in the 4th quarter worth $25,000. FSB Premier Wealth Management Inc. bought a new position in Mondelez International in the 4th quarter worth $27,000. Landmark Wealth Management LLC bought a new position in Mondelez International in the 1st quarter worth $27,000. Bell Investment Advisors Inc raised its holdings in Mondelez International by 64.3% in the 4th quarter. Bell Investment Advisors Inc now owns 419 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares in the last quarter. Finally, Sierra Capital LLC raised its holdings in Mondelez International by 1,151.4% in the 4th quarter. Sierra Capital LLC now owns 438 shares of the company’s stock worth $29,000 after purchasing an additional 403 shares in the last quarter. 77.10% of the stock is currently owned by institutional investors.

Insider Transactions at Mondelez International

In other news, EVP Robin S. Hargrove sold 30,500 shares of Mondelez International stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $65.86, for a total value of $2,008,730.00. Following the completion of the sale, the executive vice president now directly owns 32,024 shares in the company, valued at $2,109,100.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Credit Suisse Group initiated coverage on shares of Mondelez International in a research note on Tuesday, April 12th. They issued an “outperform” rating and a $70.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Mondelez International from $73.00 to $70.00 in a research report on Monday, July 18th. Morgan Stanley lowered their price target on shares of Mondelez International from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, April 13th. Sanford C. Bernstein lifted their price target on shares of Mondelez International to $79.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, StockNews.com cut shares of Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.18.

Mondelez International Stock Down 0.7 %

Shares of Mondelez International stock opened at $63.77 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market capitalization of $87.40 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. Mondelez International, Inc. has a 52-week low of $57.63 and a 52-week high of $69.47. The company has a 50-day simple moving average of $62.05 and a two-hundred day simple moving average of $63.60.

Mondelez International (NASDAQ:MDLZ – Get Rating) last issued its earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.03. Mondelez International had a net margin of 12.93% and a return on equity of 14.67%. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, analysts anticipate that Mondelez International, Inc. will post 2.91 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from Mondelez International’s previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.41%. Mondelez International’s payout ratio is currently 50.91%.

Mondelez International Profile

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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, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.