14 Best FMCG Stocks To Buy Now

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7. Mondelez International, Inc. (NASDAQ:MDLZ

Number of Hedge Fund Holders: 53

Mondelez International, Inc. (NASDAQ:MDLZ), branded as Mondelēz International, is a Chicago-based multinational company specializing in confectionery, food, beverages, and snack foods. Currently, Mondelez International, Inc. (NASDAQ:MDLZ) offers a quarterly dividend of $0.43 per share and has consistently increased its dividends for the past nine years.

Earlier this May, Mondelez International, Inc. (NASDAQ:MDLZ) reported strong first-quarter earnings that exceeded analyst expectations. The snack food giant posted an adjusted earnings per share (EPS) of $0.95, beating the consensus estimate of $0.89 by $0.06. Revenue came in at $9.29 billion, surpassing analysts’ forecast of $9.17 billion.

Despite the positive earnings, Mondelez International, Inc. (NASDAQ:MDLZ)’s outlook for 2024 reflects a cautious approach amid a volatile geopolitical environment. The company anticipates organic net revenue growth of 3% to 5% and high single-digit adjusted EPS growth on a constant currency basis, factoring in the 2023 adjusted EPS, which includes the developed market gum business.

In Q1 2024, the number of hedge funds in Insider Monkey’s database holding positions in Mondelez International, Inc. (NASDAQ:MDLZ) increased to 53, up from 51 in the previous quarter. The total value of these holdings now exceeds $966 million, with Bridgewater Associates emerging as the company’s leading stakeholder in Q1.

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