Clearbridge Investments LLC Lowers Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Clearbridge Investments LLC trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 934,272 shares of the company's stock after selling 513,514 shares during the quarter. Clearbridge Investments LLC owned approximately 0.07% of Mondelez International worth $55,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Mondelez International by 430.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company's stock valued at $5,520,000 after purchasing an additional 74,975 shares during the last quarter. Czech National Bank grew its position in Mondelez International by 6.5% in the 4th quarter. Czech National Bank now owns 289,931 shares of the company's stock valued at $17,318,000 after buying an additional 17,815 shares during the last quarter. Buckingham Capital Management Inc. increased its stake in Mondelez International by 25.5% in the 4th quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company's stock valued at $5,578,000 after buying an additional 18,961 shares during the period. Legacy Private Trust Co. raised its position in Mondelez International by 33.2% during the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company's stock worth $229,000 after buying an additional 957 shares during the last quarter. Finally, Kennedy Investment Group acquired a new stake in shares of Mondelez International in the 4th quarter worth $313,000. Hedge funds and other institutional investors own 78.32% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDLZ. Mizuho boosted their price target on shares of Mondelez International from $64.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. Morgan Stanley began coverage on Mondelez International in a research report on Monday, March 24th. They set an "overweight" rating and a $69.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Mondelez International from $67.00 to $62.00 and set a "hold" rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Mondelez International from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Barclays reduced their target price on Mondelez International from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.20.

Mondelez International Price Performance

Mondelez International stock traded down $1.59 during mid-day trading on Friday, hitting $66.31. 13,786,976 shares of the company were exchanged, compared to its average volume of 7,973,730. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The company has a market capitalization of $85.77 billion, a P/E ratio of 19.39, a PEG ratio of 4.34 and a beta of 0.47. The business's 50 day simple moving average is $63.25 and its two-hundred day simple moving average is $64.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its earnings results 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 net margin of 12.68% and a return on equity of 16.75%. Analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal 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 paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 2.84%. Mondelez International's payout ratio is currently 54.97%.

Mondelez International announced that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

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.