Eastern Bank Takes Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Eastern Bank bought a new position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 260,028 shares of the company’s stock, valued at approximately $19,156,000.

Several other institutional investors and hedge funds have also bought and sold shares of MDLZ. Vanguard Group Inc. raised its holdings in Mondelez International by 5.4% during the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after acquiring an additional 6,696,897 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Mondelez International by 40.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock worth $1,094,557,000 after acquiring an additional 4,794,746 shares in the last quarter. Capital Research Global Investors raised its holdings in Mondelez International by 7.3% during the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock worth $2,274,792,000 after acquiring an additional 2,206,023 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Mondelez International by 6,311.0% during the second quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company’s stock worth $114,575,000 after acquiring an additional 1,723,537 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Mondelez International by 231.4% during the second quarter. Renaissance Technologies LLC now owns 1,804,722 shares of the company’s stock worth $118,101,000 after acquiring an additional 1,260,124 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

Mondelez International Price Performance

Shares of Mondelez International stock traded up $0.71 during trading on Tuesday, hitting $71.14. The stock had a trading volume of 1,588,273 shares, compared to its average volume of 6,760,592. The firm has a market cap of $95.42 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 2.87 and a beta of 0.54. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. Mondelez International, Inc. has a 12 month low of $63.66 and a 12 month high of $77.20. The business’s 50-day moving average is $72.55 and its 200 day moving average is $69.64.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.69% and a net margin of 10.97%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. As a group, sell-side analysts anticipate that Mondelez International, Inc. will post 3.5 earnings per share for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a dividend of $0.47 per share. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, September 30th. Mondelez International’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDLZ. Citigroup boosted their price target on Mondelez International from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler dropped their price target on Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. DA Davidson decreased their price objective on Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barclays decreased their price target on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on Mondelez International in a research note on Tuesday. They issued a “buy” rating and a $82.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.06.

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.