Berkshire Asset Management LLC PA Sells 24,741 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Berkshire Asset Management LLC PA trimmed its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 595,291 shares of the company's stock after selling 24,741 shares during the quarter. Mondelez International makes up about 1.6% of Berkshire Asset Management LLC PA's investment portfolio, making the stock its 28th largest holding. Berkshire Asset Management LLC PA's holdings in Mondelez International were worth $34,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of Mondelez International during the 3rd quarter valued at about $25,000. Marshall Investment Management LLC bought a new stake in Mondelez International during the 4th quarter worth approximately $26,000. Prospera Private Wealth LLC purchased a new position in Mondelez International during the third quarter valued at approximately $27,000. Hager Investment Management Services LLC bought a new position in shares of Mondelez International in the fourth quarter worth approximately $27,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Mondelez International in the fourth quarter worth approximately $31,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Mondelez International from $78.00 to $71.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Mondelez International from $67.00 to $62.00 and set a "hold" rating on the stock in a research report on Wednesday, January 22nd. Stifel Nicolaus cut their target price on Mondelez International from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Barclays lowered their price target on Mondelez International from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler downgraded Mondelez International from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $70.00 to $63.00 in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.74.

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Mondelez International Trading Down 0.4 %

Shares of MDLZ traded down $0.30 during midday trading on Tuesday, hitting $67.85. The stock had a trading volume of 10,840,265 shares, compared to its average volume of 7,478,369. The stock's 50 day moving average is $60.23 and its 200 day moving average is $65.50. The firm has a market cap of $87.77 billion, a PE ratio of 19.84, 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.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. As a group, analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.77%. Mondelez International's dividend payout ratio (DPR) is 54.97%.

Mondelez International declared that its board has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Mondelez International Company Profile

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.