Truist Financial Corp Sells 41,823 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Truist Financial Corp lessened its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 4.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 897,795 shares of the company’s stock after selling 41,823 shares during the period. Truist Financial Corp’s holdings in Mondelez International were worth $58,752,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC raised its stake in Mondelez International by 9.0% during the second quarter. EP Wealth Advisors LLC now owns 24,523 shares of the company’s stock worth $1,605,000 after buying an additional 2,023 shares during the last quarter. Kimelman & Baird LLC bought a new position in Mondelez International during the second quarter worth $1,539,000. Wallace Capital Management Inc. raised its stake in Mondelez International by 2.1% during the second quarter. Wallace Capital Management Inc. now owns 37,004 shares of the company’s stock worth $2,422,000 after buying an additional 762 shares during the last quarter. Quarry LP raised its stake in Mondelez International by 100.1% during the second quarter. Quarry LP now owns 2,223 shares of the company’s stock worth $145,000 after buying an additional 1,112 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Mondelez International by 5.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 103,824 shares of the company’s stock worth $6,794,000 after buying an additional 5,777 shares during the last quarter. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Down 0.9 %

Mondelez International stock opened at $72.99 on Wednesday. Mondelez International, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $77.20. The stock has a market cap of $97.91 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The firm’s 50-day simple moving average is $71.75 and its 200 day simple moving average is $69.56. 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 (NASDAQ:MDLZ) last released 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 business had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Research analysts predict that Mondelez International, Inc. will post 3.49 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.58%. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, September 30th. Mondelez International’s payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MDLZ shares. Bank of America decreased their price target on shares of Mondelez International from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Sanford C. Bernstein decreased their price target on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. TD Cowen decreased their price target on shares of Mondelez International from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. DA Davidson decreased their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Evercore ISI lifted 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. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.65.

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.