California Public Employees Retirement System cut its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,062,918 shares of the company's stock after selling 68,217 shares during the quarter. California Public Employees Retirement System owned approximately 0.38% of Mondelez International worth $302,408,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Investment Management LLC acquired a new position in shares of Mondelez International in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new position in Mondelez International in the 4th quarter valued at $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Mondelez International in the fourth quarter worth $31,000. McClarren Financial Advisors Inc. bought a new stake in shares of Mondelez International during the fourth quarter worth $32,000. Finally, Sierra Ocean LLC bought a new stake in shares of Mondelez International during the fourth quarter worth $32,000. Institutional investors and hedge funds own 78.32% of the company's stock.
Mondelez International Stock Down 2.2 %
NASDAQ:MDLZ traded down $1.52 during midday trading on Wednesday, reaching $66.13. The company had a trading volume of 11,330,442 shares, compared to its average volume of 7,957,759. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $85.54 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 4.34 and a beta of 0.50. The stock's fifty day simple moving average is $62.65 and its 200-day simple moving average is $64.65. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06.
Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. On average, sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.
Mondelez International announced that its board has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.
Mondelez International Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International's payout ratio is 54.97%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MDLZ. Dbs Bank cut shares of Mondelez International from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 7th. UBS Group dropped their target price on Mondelez International from $76.00 to $63.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. DZ Bank cut Mondelez International from a "hold" rating to a "sell" rating and set a $52.00 price target on the stock. in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on Mondelez International from $68.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, Royal Bank of Canada reduced their target price on shares of Mondelez International from $75.00 to $69.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $70.20.
Get Our Latest Research Report on Mondelez International
About Mondelez International
(
Free Report)
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.
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