International Assets Investment Management LLC lessened its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 98.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,982 shares of the company's stock after selling 794,103 shares during the period. International Assets Investment Management LLC's holdings in Mondelez International were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. increased its position in shares of Mondelez International by 1,904.9% during the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company's stock worth $31,369,000 after purchasing an additional 404,567 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Mondelez International by 14.3% in the third quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company's stock valued at $8,430,000 after buying an additional 14,278 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Mondelez International by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company's stock worth $18,349,000 after acquiring an additional 25,833 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Mondelez International by 5.6% during the third quarter. Principal Financial Group Inc. now owns 1,567,067 shares of the company's stock valued at $115,446,000 after acquiring an additional 82,742 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Mondelez International by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 1,354,879 shares of the company's stock worth $99,822,000 after purchasing an additional 9,789 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company's stock.
Mondelez International Price Performance
MDLZ traded down $2.04 during trading on Friday, hitting $56.25. The company's stock had a trading volume of 11,667,989 shares, compared to its average volume of 8,961,809. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $75.22 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.80 and a beta of 0.54. The business's fifty day simple moving average is $62.83 and its 200 day simple moving average is $67.65. Mondelez International, Inc. has a twelve month low of $56.21 and a twelve month high of $77.20.
Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.14. The firm had revenue of $9.20 billion for the quarter, compared to analysts' expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. On average, equities research analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current fiscal year.
Mondelez International declared that its Board of Directors has authorized a share 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 reacquire up to 10.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
Mondelez International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Mondelez International's dividend payout ratio is presently 66.67%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Mondelez International from a "buy" rating to a "hold" rating and dropped their price target for the company from $78.00 to $67.00 in a research note on Thursday, December 12th. Redburn Atlantic began coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $82.00 price objective for the company. Piper Sandler upped their target price on Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on shares of Mondelez International from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Mondelez International presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.64.
Read Our Latest Stock 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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