Renaissance Technologies LLC Boosts Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Renaissance Technologies LLC lifted its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 231.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,804,722 shares of the company’s stock after buying an additional 1,260,124 shares during the period. Renaissance Technologies LLC’s holdings in Mondelez International were worth $118,101,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MDLZ. Vanguard Group Inc. boosted its position in Mondelez International by 5.4% in the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after purchasing an additional 6,696,897 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mondelez International by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,406,133 shares of the company’s stock worth $2,636,897,000 after purchasing an additional 1,686,229 shares during the period. Capital Research Global Investors boosted its holdings 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 worth $2,274,792,000 after buying an additional 2,206,023 shares during the last quarter. Capital World Investors grew its position in Mondelez International by 2.2% during the fourth quarter. Capital World Investors now owns 21,562,411 shares of the company’s stock valued at $1,561,765,000 after buying an additional 463,738 shares during the period. Finally, Norges Bank purchased a new stake in Mondelez International during the fourth quarter worth about $1,231,413,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Stock Up 1.2 %

MDLZ opened at $75.26 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $69.72 and its 200 day simple moving average is $69.33. Mondelez International, Inc. has a 52 week low of $60.75 and a 52 week high of $77.20. The stock has a market cap of $100.95 billion, a PE ratio of 23.89, a P/E/G ratio of 3.01 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. The company had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period last year, the firm posted $0.76 EPS. Mondelez International’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, research analysts expect 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. Shareholders of record on Monday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.50%. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, September 30th. Mondelez International’s dividend payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

MDLZ has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Bank of America decreased their target price on Mondelez International from $82.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Sanford C. Bernstein dropped their price target on Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Barclays dropped their price objective on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Mondelez International presently has a consensus 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.