Kornitzer Capital Management Inc. KS Sells 1,242 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Kornitzer Capital Management Inc. KS trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,060 shares of the company’s stock after selling 1,242 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Mondelez International were worth $3,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Business Financial Services Inc. lifted its stake in shares of Mondelez International by 3.4% in the second quarter. First Business Financial Services Inc. now owns 13,502 shares of the company’s stock valued at $884,000 after buying an additional 442 shares during the period. National Bank of Canada FI raised its holdings in Mondelez International by 53.6% in the 2nd quarter. National Bank of Canada FI now owns 1,114,084 shares of the company’s stock valued at $72,681,000 after acquiring an additional 388,749 shares in the last quarter. SouthState Corp lifted its position in shares of Mondelez International by 0.7% in the 2nd quarter. SouthState Corp now owns 173,645 shares of the company’s stock worth $11,363,000 after acquiring an additional 1,262 shares during the period. Nicholas Hoffman & Company LLC. grew its holdings in shares of Mondelez International by 17.5% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 22,308 shares of the company’s stock worth $1,460,000 after purchasing an additional 3,328 shares in the last quarter. Finally, Journey Advisory Group LLC increased its position in shares of Mondelez International by 6.1% during the second quarter. Journey Advisory Group LLC now owns 41,965 shares of the company’s stock valued at $2,746,000 after purchasing an additional 2,408 shares during the period. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Performance

Shares of NASDAQ:MDLZ opened at $75.07 on Friday. The business has a fifty day moving average of $68.65 and a 200-day moving average of $69.31. 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, Inc. has a twelve month low of $60.75 and a twelve month high of $77.20. The firm has a market cap of $100.70 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share 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 firm had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter last year, the company posted $0.76 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Mondelez International, Inc. will post 3.5 EPS for the current fiscal year.

Mondelez International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s dividend payout ratio (DPR) is currently 59.68%.

Analysts Set New Price Targets

Several research analysts recently commented on MDLZ shares. DA Davidson reduced their target price on Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Sanford C. Bernstein decreased their target price on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on shares of Mondelez International in a research report on Monday, August 12th. They issued a “buy” rating and a $80.00 price target for the company. Stifel Nicolaus cut 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 Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on 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 equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.61.

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.