Wallace Capital Management Inc. Grows Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Wallace Capital Management Inc. boosted its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,004 shares of the company’s stock after purchasing an additional 762 shares during the period. Mondelez International makes up approximately 0.3% of Wallace Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Wallace Capital Management Inc.’s holdings in Mondelez International were worth $2,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Mondelez International by 5.4% during the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after buying an additional 6,696,897 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mondelez International by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,406,133 shares of the company’s stock valued at $2,636,897,000 after acquiring an additional 1,686,229 shares during the period. Capital Research Global Investors raised its stake in shares of Mondelez International by 7.3% in the 1st quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after acquiring an additional 2,206,023 shares during the period. Capital World Investors raised its stake in shares of Mondelez International by 2.2% in the 4th quarter. Capital World Investors now owns 21,562,411 shares of the company’s stock valued at $1,561,765,000 after acquiring an additional 463,738 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Mondelez International by 40.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after acquiring an additional 4,794,746 shares during the period. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Price Performance

Shares of MDLZ stock opened at $74.20 on Monday. The firm has a market cap of $99.53 billion, a P/E ratio of 23.56, a P/E/G ratio of 3.02 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.50. Mondelez International, Inc. has a 1-year low of $60.75 and a 1-year high of $77.20. The firm has a fifty day moving average of $71.47 and a two-hundred day moving average of $69.53.

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

Mondelez International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 2.53%. Mondelez International’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDLZ. DA Davidson cut their target price on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler cut their target price on shares of Mondelez International from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. TD Cowen cut their target price on shares of Mondelez International from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Stifel Nicolaus cut their target price on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.