Ridgepath Capital Management LLC Grows Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Ridgepath Capital Management LLC boosted its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,440 shares of the company’s stock after purchasing an additional 563 shares during the quarter. Mondelez International comprises about 1.1% of Ridgepath Capital Management LLC’s portfolio, making the stock its 18th biggest position. Ridgepath Capital Management LLC’s holdings in Mondelez International were worth $1,358,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. First Financial Bankshares Inc increased its holdings in Mondelez International by 1.3% during the 3rd quarter. First Financial Bankshares Inc now owns 1,193,383 shares of the company’s stock worth $87,917,000 after purchasing an additional 15,065 shares during the period. Richardson Financial Services Inc. increased its holdings in Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Sterling Investment Advisors Ltd. increased its holdings in Mondelez International by 10.9% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 23,328 shares of the company’s stock worth $1,719,000 after purchasing an additional 2,290 shares during the period. State of Alaska Department of Revenue increased its holdings in Mondelez International by 1.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 161,345 shares of the company’s stock worth $11,885,000 after purchasing an additional 2,190 shares during the period. Finally, Smith Salley Wealth Management increased its holdings in Mondelez International by 1.5% during the 3rd quarter. Smith Salley Wealth Management now owns 32,027 shares of the company’s stock worth $2,359,000 after purchasing an additional 483 shares during the period. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Mondelez International in a research report on Monday, August 12th. They issued a “buy” rating and a $80.00 price target for the company. Barclays reduced their price target on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Sanford C. Bernstein reduced their price target on Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Redburn Atlantic assumed coverage on Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.35.

Mondelez International Stock Performance

Shares of MDLZ stock opened at $69.23 on Monday. The company has a market capitalization of $92.86 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.98 and a beta of 0.54. The business’s 50 day moving average is $72.54 and its two-hundred day moving average is $69.71. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. Mondelez International, Inc. has a 12-month low of $64.18 and a 12-month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.45 billion. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. Mondelez International’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. Analysts expect that Mondelez International, Inc. will post 3.49 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s dividend payout ratio is presently 59.68%.

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.