Mondelez International, Inc. (NASDAQ:MDLZ) Shares Bought by Logan Capital Management Inc.

Logan Capital Management Inc. increased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 73.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,289 shares of the company's stock after acquiring an additional 107,314 shares during the period. Logan Capital Management Inc.'s holdings in Mondelez International were worth $18,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Mondelez International in the 3rd quarter valued at $25,000. Prospera Private Wealth LLC purchased a new stake in Mondelez International during the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its stake in shares of Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Mondelez International during the second quarter worth $29,000. Finally, Highline Wealth Partners LLC purchased a new position in Mondelez International in the 3rd quarter valued at $38,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

MDLZ stock traded down $0.70 during midday trading on Friday, reaching $61.93. The company had a trading volume of 7,120,466 shares, compared to its average volume of 6,911,103. The firm has a market capitalization of $82.81 billion, a PE ratio of 21.96, a P/E/G ratio of 2.85 and a beta of 0.53. The stock has a 50 day moving average price of $66.99 and a 200 day moving average price of $68.63. Mondelez International, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $77.20. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.14. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. Analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Mondelez International's payout ratio is 66.67%.

Mondelez International announced that its board has authorized a share buyback plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MDLZ shares. Evercore ISI boosted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Piper Sandler increased their price objective on Mondelez International from $74.00 to $84.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Citigroup cut their price objective on Mondelez International from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Redburn Atlantic assumed coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They set a "buy" rating and a $82.00 price target for the company. Finally, Bank of America upped their price objective on shares of Mondelez International from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $79.07.

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.