Allstate Corp Purchases New Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Allstate Corp acquired a new position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,836 shares of the company's stock, valued at approximately $2,379,000.

Several other large investors have also modified their holdings of the company. Continuum Advisory LLC lifted its position in Mondelez International by 7.4% during the 3rd quarter. Continuum Advisory LLC now owns 2,542 shares of the company's stock worth $187,000 after buying an additional 175 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Mondelez International by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 10,499 shares of the company's stock valued at $627,000 after buying an additional 181 shares in the last quarter. Traphagen Investment Advisors LLC raised its position in Mondelez International by 0.8% during the fourth quarter. Traphagen Investment Advisors LLC now owns 23,619 shares of the company's stock worth $1,411,000 after acquiring an additional 187 shares in the last quarter. Core Alternative Capital lifted its stake in Mondelez International by 1.7% in the fourth quarter. Core Alternative Capital now owns 11,448 shares of the company's stock valued at $684,000 after acquiring an additional 187 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its position in shares of Mondelez International by 1.0% in the 4th quarter. Waldron Private Wealth LLC now owns 19,496 shares of the company's stock valued at $1,164,000 after acquiring an additional 191 shares during the period. 78.32% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several brokerages recently issued reports on MDLZ. Royal Bank of Canada cut their target price on shares of Mondelez International from $75.00 to $69.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price objective on shares of Mondelez International from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Mizuho raised their target price on shares of Mondelez International from $64.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. UBS Group decreased their price target on shares of Mondelez International from $76.00 to $63.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, Barclays lowered their price target on shares of Mondelez International from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $70.20.

Mondelez International Price Performance

MDLZ stock traded down $1.52 during midday trading on Wednesday, reaching $66.13. The company had a trading volume of 11,280,359 shares, compared to its average volume of 7,957,686. The company has a market capitalization of $85.54 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The stock has a 50 day moving average price of $62.65 and a 200-day moving average price of $64.65.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. Equities research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Monday, March 31st. Mondelez International's dividend payout ratio is presently 54.97%.

Mondelez International announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

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.