Brown Brothers Harriman & Co. Cuts Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Brown Brothers Harriman & Co. trimmed its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 33.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,856 shares of the company’s stock after selling 6,393 shares during the period. Brown Brothers Harriman & Co.’s holdings in Mondelez International were worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MDLZ. Arrowstreet Capital Limited Partnership boosted its stake in Mondelez International by 633.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,549,572 shares of the company’s stock valued at $324,816,000 after acquiring an additional 4,792,636 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Mondelez International by 32.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,100,110 shares of the company’s stock valued at $1,117,929,000 after acquiring an additional 4,680,414 shares in the last quarter. Parnassus Investments CA boosted its stake in Mondelez International by 17.5% in the second quarter. Parnassus Investments CA now owns 13,458,297 shares of the company’s stock valued at $840,336,000 after acquiring an additional 2,000,078 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Mondelez International by 15.5% in the first quarter. Nuveen Asset Management LLC now owns 14,013,506 shares of the company’s stock valued at $820,210,000 after acquiring an additional 1,875,706 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Mondelez International in the first quarter valued at approximately $66,449,000. Institutional investors own 75.58% of the company’s stock.

MDLZ opened at $59.96 on Thursday. The stock has a market capitalization of $83.81 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.42 and a beta of 0.66. The company has a fifty day moving average of $61.06 and a two-hundred day moving average of $61.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.41 and a current ratio of 0.61. Mondelez International, Inc. has a fifty-two week low of $52.51 and a fifty-two week high of $65.60.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, July 27th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Mondelez International had a net margin of 15.49% and a return on equity of 14.30%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts forecast that Mondelez International, Inc. will post 2.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Mondelez International’s previous quarterly dividend of $0.32. Mondelez International’s payout ratio is currently 54.05%.

Several equities research analysts have weighed in on MDLZ shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $71.00 target price on shares of Mondelez International in a research note on Friday, August 6th. Guggenheim lifted their price objective on shares of Mondelez International from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 28th. Piper Sandler lifted their price objective on shares of Mondelez International from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Morgan Stanley began coverage on shares of Mondelez International in a research note on Tuesday, September 21st. They set a “buy” rating and a $69.00 price objective for the company. Finally, The Goldman Sachs Group downgraded shares of Mondelez International from a “conviction-buy” rating to a “buy” rating in a research report on Friday, July 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $67.08.

In related news, Director Peter W. May sold 399,654 shares of the company’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $61.99, for a total transaction of $24,774,551.46. Following the completion of the sale, the director now owns 16,062 shares of the company’s stock, valued at approximately $995,683.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter W. May sold 79,346 shares of the company’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $62.06, for a total transaction of $4,924,212.76. Following the sale, the director now directly owns 16,062 shares of the company’s stock, valued at approximately $996,807.72. The disclosure for this sale can be found here. Insiders have sold 640,316 shares of company stock valued at $39,732,619 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Mondelez International Company Profile

Mondelez International, Inc engages in the manufacture and marketing of snack food and beverage products. It operates through the following geographical segments: Latin America; Asia, Middle East, and Africa; Europe; and North America. Its products include beverages, biscuits, chocolate, gum & candy, cheese & grocery and meals.

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Institutional Ownership by Quarter for Mondelez International (NASDAQ:MDLZ)

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