Miracle Mile Advisors LLC Increases Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Miracle Mile Advisors LLC increased its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 374.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,124 shares of the company's stock after buying an additional 17,465 shares during the quarter. Miracle Mile Advisors LLC's holdings in Mondelez International were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MDLZ. Truvestments Capital LLC purchased a new position in shares of Mondelez International in the third quarter worth about $25,000. Prospera Private Wealth LLC purchased a new position in Mondelez International during the 3rd quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its stake in Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company's stock valued at $28,000 after acquiring an additional 200 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of Mondelez International in the 3rd quarter valued at $38,000. Finally, Hara Capital LLC purchased a new stake in shares of Mondelez International in the 3rd quarter valued at $45,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Price Performance

MDLZ traded down $0.46 during midday trading on Wednesday, hitting $56.64. 8,839,183 shares of the company traded hands, compared to its average volume of 10,010,664. The business has a 50 day simple moving average of $62.11 and a two-hundred day simple moving average of $67.44. Mondelez International, Inc. has a 52-week low of $55.97 and a 52-week high of $77.20. The company has a market capitalization of $75.74 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.80 and a beta of 0.54. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same period last year, the company posted $0.82 EPS. Mondelez International's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share 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 company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Tuesday, December 31st. Mondelez International's dividend payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MDLZ shares. Piper Sandler boosted their target price on shares of Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Mondelez International from a "buy" rating to a "hold" rating and lowered their target price for the stock from $78.00 to $67.00 in a research note on Thursday, December 12th. Redburn Atlantic started coverage on Mondelez International in a research report on Tuesday, October 22nd. They set a "buy" rating and a $82.00 price target for the company. Wells Fargo & Company reissued an "equal weight" rating and issued a $61.00 price target (down from $74.00) on shares of Mondelez International in a report on Tuesday, January 7th. Finally, Citigroup dropped their price objective on shares of Mondelez International from $78.00 to $71.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.79.

Mondelez International 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.