Magellan Asset Management Ltd Sells 7,468 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Magellan Asset Management Ltd lowered its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,464 shares of the company's stock after selling 7,468 shares during the period. Magellan Asset Management Ltd's holdings in Mondelez International were worth $4,567,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Marshall Investment Management LLC acquired a new position in shares of Mondelez International during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Mondelez International in the 4th quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Mondelez International in the fourth quarter valued at $31,000. McClarren Financial Advisors Inc. bought a new stake in shares of Mondelez International in the 4th quarter worth approximately $32,000. Finally, Sierra Ocean LLC purchased a new stake in Mondelez International during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 78.32% of the company's stock.

Mondelez International Trading Down 2.3 %

Shares of MDLZ traded down $1.59 during trading on Friday, reaching $66.31. 13,786,976 shares of the company traded hands, compared to its average volume of 7,973,730. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock has a market cap of $85.77 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 4.34 and a beta of 0.47. The stock has a 50-day simple moving average of $63.25 and a 200-day simple moving average of $64.54. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06.

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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, analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Monday, March 31st. Mondelez International's dividend payout ratio is presently 54.97%.

Mondelez International announced that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

MDLZ has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target 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. Royal Bank of Canada decreased 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. Mizuho increased their price objective on shares of Mondelez International from $64.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Morgan Stanley assumed coverage on shares of Mondelez International in a research report on Monday, March 24th. They set an "overweight" rating and a $69.00 price objective on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Mondelez International from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.20.

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.