CIBC Asset Management Inc Grows Stock Position in Mondelez International, Inc. $MDLZ

CIBC Asset Management Inc lifted its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,008,510 shares of the company’s stock after acquiring an additional 31,266 shares during the period. CIBC Asset Management Inc owned approximately 0.08% of Mondelez International worth $62,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDLZ. State Street Corp increased its stake in Mondelez International by 1.1% during the 2nd quarter. State Street Corp now owns 59,446,397 shares of the company’s stock valued at $4,036,594,000 after purchasing an additional 670,634 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Mondelez International by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,951,049 shares of the company’s stock valued at $1,943,170,000 after acquiring an additional 242,695 shares during the period. Norges Bank purchased a new position in Mondelez International in the 2nd quarter worth $1,239,834,000. Invesco Ltd. raised its stake in Mondelez International by 10.7% in the 2nd quarter. Invesco Ltd. now owns 13,892,264 shares of the company’s stock worth $936,894,000 after acquiring an additional 1,345,078 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mondelez International by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 8,096,303 shares of the company’s stock worth $546,015,000 after acquiring an additional 145,442 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Up 1.4%

Mondelez International stock opened at $58.40 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.61 and a quick ratio of 0.37. The stock has a market capitalization of $75.36 billion, a PE ratio of 21.87 and a beta of 0.39. The business has a 50 day simple moving average of $55.34 and a 200-day simple moving average of $60.05. Mondelez International, Inc. has a 12 month low of $51.20 and a 12 month high of $71.15.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The company had revenue of $9.74 billion during the quarter, compared to analysts’ expectations of $9.76 billion. Mondelez International had a return on equity of 14.16% and a net margin of 9.38%.Mondelez International’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. Mondelez International has set its FY 2025 guidance at 2.860-2.860 EPS. On average, analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, December 31st. Mondelez International’s payout ratio is presently 74.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MDLZ shares. Piper Sandler cut their price objective on Mondelez International from $63.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Royal Bank Of Canada cut their price target on shares of Mondelez International from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. DA Davidson decreased their price objective on shares of Mondelez International from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Morgan Stanley cut their price objective on shares of Mondelez International from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. Finally, Sanford C. Bernstein decreased their target price on shares of Mondelez International from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.11.

About Mondelez International

Mondelez International is a global snacks company headquartered in Chicago, Illinois, formed in 2012 when Kraft Foods split to create a business focused on snack foods and a separate North American grocery company. Mondelez develops, manufactures, markets and distributes a broad portfolio of snack products intended for retail, foodservice and e‑commerce channels around the world.

The company’s product mix centers on biscuits and cookies, chocolate and confectionery, gum and candy, and savory crackers and baked snacks.