Nemes Rush Group LLC Decreases Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Nemes Rush Group LLC lessened its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 15.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,363 shares of the company’s stock after selling 240 shares during the quarter. Nemes Rush Group LLC’s holdings in Mondelez International were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MDLZ. 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 shares of Mondelez International in the second quarter valued at approximately $26,000. Lynx Investment Advisory purchased a new stake in shares of Mondelez International during the 2nd quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Mondelez International during the 2nd quarter valued at approximately $29,000. Finally, Transcendent Capital Group LLC bought a new position in Mondelez International in the 4th quarter worth approximately $34,000. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Performance

Mondelez International stock opened at $74.20 on Monday. Mondelez International, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $77.20. 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 stock has a market cap of $99.53 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The firm’s fifty day moving average price is $71.47 and its 200-day moving average price is $69.53.

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

Mondelez International Increases Dividend

The company also recently announced 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 is an increase from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.53%. Mondelez International’s payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MDLZ. Wells Fargo & Company lowered their target price on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. DA Davidson decreased their price objective on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group started coverage on Mondelez International in a report on Monday, August 12th. They set a “buy” rating and a $80.00 target price for the company. TD Cowen decreased their price target on Mondelez International from $83.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Finally, Piper Sandler cut their price objective on shares of 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 analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.65.

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.