Institute for Wealth Management LLC. Increases stake in Mondelez International, Inc. (NASDAQ:MDLZ)

VaselineAugust 26, 2024

0 3 minutes read

Institute for Wealth Management LLC. increased its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ – Free Report) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,128 shares of the company’s stock after buying an additional 171 shares during the quarter. Holdings of Institute for Wealth Management LLC. in Mondelez International were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors have recently made changes to their positions in MDLZ. Bogart Wealth LLC raised its stake in Mondelez International by 63.9% in the 4th quarter. Bogart Wealth LLC now owns 359 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period . Ables Iannone Moore & Associates Inc. acquired a new position in shares of Mondelez International during the fourth quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Mondelez International in the second quarter valued at $26,000. Lynx Investment Advisory purchased a new stake in shares of Mondelez International in the second quarter valued at about $27,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Mondelez International in the 4th quarter worth $29,000. Institutional investors and hedge funds own 78.32% of the company’s shares.

Changes in Analyst Ratings

A number of brokerages weighed in on MDLZ. Evercore ISI decreased their price target on shares of Mondelez International from $80.00 to $79.00 and set an “outperform” rating for the company in a research report on Tuesday, June 4th. Goldman Sachs Group began coverage on shares of Mondelez International in a research note on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective for the company. Stifel Nicolaus 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 research note on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company 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 report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.61, according to MarketBeat.com.

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Performance of Mondelez International Shares

NASDAQ MDLZ opened at $71.23 on Monday. The company’s 50-day moving average price is $67.64 and its 200-day moving average price is $69.29. Mondelez International, Inc. it has a 52-week low of $60.75 and a 52-week high of $77.20. The firm has a market cap of $95.55 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.76 and a beta of 0.53. The company has a quick ratio of 0.63, a current ratio of 0.68, and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. The firm had revenue of $8.34 billion during the quarter, compared to the consensus estimate of $8.45 billion. The company’s revenue for the quarter was down 1.9% year over year. In the same period last year, the company earned $0.76 per share. On average, equities research analysts expect that Mondelez International, Inc. to post 3.49 earnings per share for the current year.

Mondelez International raises dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.47 per share. This represents a dividend of $1.88 on an annualized basis and a dividend yield of 2.64%. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, September 30. Mondelez International’s dividend yield is 59.68%.

Mondelez International Company Profile

(Free report)

Mondelez International, Inc, through its subsidiaries, manufactures, markets and sells snack foods and beverages in Latin America, North America, Asia, the Middle East, Africa and Europe. Offers baked cookies and snacks, including cookies, crackers, savory snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheeses and powdered food and beverage products.