Sun Sep 15 12:43:15 UTC 2024: ## Jupiter Asset Management Cuts Mondelez International Stake, Other Investors Adjust Holdings

**New York, NY (MarketBeat News)** – Jupiter Asset Management Ltd. significantly reduced its stake in Mondelez International, Inc. (NASDAQ: MDLZ) during the second quarter, selling off nearly all of its holdings, according to HoldingsChannel.com. The firm now owns only 3,315 shares of the snack food giant, worth approximately $217,000.

This move comes amidst a flurry of activity from other major investors in MDLZ. Norges Bank entered the market during the fourth quarter, acquiring a new position valued at $1,231,413,000. Vanguard Group Inc. increased its holdings by 5.4% in the first quarter, owning 130,765,846 shares worth $9,153,609,000. Other notable increases include Capital Research Global Investors (up 26.9%), First Trust Advisors LP (up 152.3%), and Price T Rowe Associates Inc. MD (up 4.9%).

Analysts have been mixed in their assessments of MDLZ. DA Davidson lowered their target price to $75.00, but maintained a “buy” rating. Evercore ISI and Wells Fargo & Company also lowered their targets, while Sanford C. Bernstein and The Goldman Sachs Group both issued “outperform” and “buy” ratings, respectively. Overall, the stock currently holds a “Moderate Buy” consensus rating with an average target price of $78.61.

Mondelez International recently exceeded earnings expectations for the second quarter, reporting $0.86 EPS compared to the consensus estimate of $0.79. However, revenue fell slightly below expectations and was down 1.9% year-over-year. The company also announced a quarterly dividend increase to $0.47, payable on October 14th.

Mondelez International, a global leader in snacks and beverages, faces ongoing challenges in a competitive market. Investor activity and analyst opinions reflect the ongoing uncertainty surrounding the company’s future performance. However, with its strong brand portfolio and recent dividend increase, MDLZ remains a key player in the food and beverage industry.

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