Parsons Capital Management Inc. RI Sells 1,270 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Parsons Capital Management Inc. RI reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.4% in the first quarter, Holdings Channel reports. The fund owned 51,805 shares of the company’s stock after selling 1,270 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Mondelez International were worth $3,515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDLZ. Marshall Investment Management LLC bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $26,000. Transce3nd LLC bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $30,000. Orion Capital Management LLC bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $31,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $32,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

MDLZ opened at $66.70 on Tuesday. The business’s 50-day moving average is $66.44 and its two-hundred day moving average is $63.40. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market capitalization of $86.36 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 4.34 and a beta of 0.48.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. The company had revenue of $9.31 billion for the quarter, compared to analyst estimates of $9.37 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.88 annualized dividend and a yield of 2.82%. Mondelez International’s dividend payout ratio (DPR) is presently 69.89%.

Analyst Upgrades and Downgrades

MDLZ has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Mondelez International from $64.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, April 11th. Morgan Stanley raised their price target on Mondelez International from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. DA Davidson downgraded Mondelez International from a “buy” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $68.00 in a research report on Thursday, April 24th. UBS Group raised their price target on Mondelez International from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Finally, Mizuho raised their price target on Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.11.

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.