Can MDLZ maintain its Q3 2024 momentum?

**Mondelez International (MDLZ) is likely to face challenges in maintaining its Q3 2024 momentum** for several reasons:

1. **Dividend Payments**: Mondelez has declared a quarterly dividend of $0.47 per share, with an annualized dividend of $1.88 and a dividend yield of 3.12%. While this represents a consistent dividend payment, it may not be enough to drive significant stock price appreciation, especially in the short term.
2. **Share Repurchase Plan**: Mondelez has announced a $9 billion share repurchase plan, which replaces the current $6 billion authorization. This indicates a focus on shareholder returns, but it may not directly contribute to an immediate uptick in stock price.
3. **Market Conditions**: The broader market conditions, including economic indicators and consumer sentiment, will play a crucial role in determining MDLZ's stock performance. If these conditions are not favorable, MDLZ's momentum could slow down.
4. **Hershey Acquisition**: The potential acquisition of Hershey has been a topic of speculation, but Mondelez has declined to comment on market rumors and has reaffirmed its focus on bolt-on acquisitions. The uncertainty surrounding this potential deal could lead to volatility in MDLZ's stock price.
5. **Institutional Investor Activity**: There has been significant institutional investor activity, with Logan Capital Management Inc. increasing its position by 73.0% during Q3, and Wilmington Savings Fund Society FSB growing its stake by 489.1% during the same period. These actions suggest confidence from some institutional investors, but others, like Retirement Systems of Alabama, have decreased their stakes. The net effect of these actions on MDLZ's stock price momentum is unclear.
6. **Analyst Ratings**: Analysts have provided mixed ratings, with some upgrading their price targets, such as Redburn Atlantic's "buy" rating and Piper Sandler's "overweight" rating. However, these ratings do not necessarily indicate an immediate uptrend in the stock price.

In conclusion, while there are positive factors such as the dividend payment and share repurchase plan, the potential slowdown in economic conditions, the uncertainty surrounding the Hershey acquisition, and the mixed institutional investor activity suggest that MDLZ may face challenges in maintaining its Q3 2024 momentum.