Texas Permanent School Fund Corp Trims Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Texas Permanent School Fund Corp decreased its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 278,352 shares of the company’s stock after selling 2,555 shares during the period. Texas Permanent School Fund Corp’s holdings in Mondelez International were worth $19,485,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MDLZ. Norges Bank purchased a new position in Mondelez International during the fourth quarter worth $1,231,413,000. Capital Research Global Investors increased its position in Mondelez International by 26.9% during the fourth quarter. Capital Research Global Investors now owns 30,291,001 shares of the company’s stock worth $2,193,977,000 after buying an additional 6,426,928 shares in the last quarter. First Trust Advisors LP increased its position in Mondelez International by 152.3% during the fourth quarter. First Trust Advisors LP now owns 4,114,581 shares of the company’s stock worth $298,019,000 after buying an additional 2,483,972 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Mondelez International by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,406,133 shares of the company’s stock worth $2,636,897,000 after buying an additional 1,686,229 shares in the last quarter. Finally, First Financial Bankshares Inc purchased a new position in Mondelez International during the fourth quarter worth $83,613,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Down 0.9 %

Shares of MDLZ traded down $0.61 during midday trading on Thursday, reaching $65.32. 7,453,012 shares of the company were exchanged, compared to its average volume of 7,294,437. The stock has a 50-day moving average price of $68.11 and a 200-day moving average price of $70.52. The company has a market cap of $87.62 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.54 and a beta of 0.53. Mondelez International, Inc. has a 1-year low of $60.75 and a 1-year high of $77.20. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.16 billion. Mondelez International had a return on equity of 16.11% and a net margin of 11.87%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Research analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, June 28th. Mondelez International’s dividend payout ratio is presently 53.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MDLZ shares. Wells Fargo & Company dropped their price target 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. Evercore ISI lowered their price objective on Mondelez International from $80.00 to $79.00 and set an “outperform” rating for the company in a research report on Tuesday, June 4th. TD Cowen lowered 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. Barclays lowered their price objective on Mondelez International from $84.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Bank of America lowered their price objective on Mondelez International from $82.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.33.

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.