Congress Asset Management Co. lowered its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,909 shares of the company's stock after selling 36,803 shares during the period. Congress Asset Management Co.'s holdings in Mondelez International were worth $6,207,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Mondelez International in the third quarter valued at $25,000. Prospera Private Wealth LLC bought a new position in Mondelez International in the third quarter valued at $27,000. Hager Investment Management Services LLC bought a new position in Mondelez International in the fourth quarter valued at $27,000. Richardson Financial Services Inc. grew its position in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Mondelez International in the fourth quarter valued at $32,000. Institutional investors own 78.32% of the company's stock.
Mondelez International Stock Performance
Mondelez International stock traded up $2.53 during midday trading on Friday, hitting $64.70. The company's stock had a trading volume of 16,289,816 shares, compared to its average volume of 11,136,414. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. The company has a 50-day moving average price of $58.98 and a two-hundred day moving average price of $65.91. The company has a market cap of $83.69 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 4.32 and a beta of 0.54.
Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share 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%. As a group, sell-side analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current year.
Mondelez International declared that its board has approved a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Mondelez International Announces Dividend
The company 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 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International's dividend payout ratio is currently 54.97%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Mondelez International from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Barclays cut their price target on shares of Mondelez International from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. UBS Group cut their price target on shares of Mondelez International from $76.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Citigroup cut their price target on shares of Mondelez International from $78.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler cut shares of Mondelez International from an "overweight" rating to a "neutral" rating and cut their price target for the company from $70.00 to $63.00 in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $69.74.
Read Our Latest Research Report on Mondelez International
Mondelez International Company Profile
(
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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