Illinois Municipal Retirement Fund Raises Shares in Mondelez International, Inc. (NASDAQ:MDLZ)

Illinois Municipal Retirement Fund raised its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ – Free Report) by 3.5% in the second quarter, Holdings Channel reports. The firm owned 139,217 shares of the company’s stock after acquiring an additional 4,689 shares during the period. Illinois Municipal Retirement Fund’s holdings in Mondelez International were worth $9,110,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Mondelez International in the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Mondelez International in the second quarter valued at about $26,000. Lynx Investment Advisory bought a new stake in Mondelez International in the second quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Mondelez International in the second quarter valued at approximately $29,000. Finally, Transcendent Capital Group LLC bought a new stake in Mondelez International in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 78.32% of the company’s shares.

Analysts set new price targets

A number of analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. DA Davidson reduced their price objective on Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. TD Cowen decreased their price objective on Mondelez International from $83.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Sanford C. Bernstein cut their price objective 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, Piper Sandler reduced their price objective on Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Mondelez International has an average rating of “Moderate Buy” and a consensus price target of $78.61, based on data from MarketBeat.com.

Check out our latest research report on Mondelez International

Mondelez International Price Performance

Shares of MDLZ opened at $75.31 on Friday. The stock has a market cap of $101.02 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.90 and a beta of 0.54. The company’s fifty-day moving average is $68.84, and its 200-day moving average is $69.31. Mondelez International, Inc. has a 12-month low of $60.75 and a 12-month high of $77.20. The company has a quick ratio of 0.50, 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. The company had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. 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. Research analysts expect that Mondelez International, Inc. to record 3.5 EPS for the current fiscal year.

Mondelez International raises dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be given a $0.47 dividend. This represents an annualized dividend of $1.88 and a yield of 2.50%. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, September 30. Mondelez International’s dividend yield is currently 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.

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