Payden & Rygel Sells 115,000 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Payden & Rygel lessened its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 96.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,570 shares of the company's stock after selling 115,000 shares during the quarter. Payden & Rygel's holdings in Mondelez International were worth $273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Mondelez International during the 4th quarter worth approximately $1,118,755,000. Raymond James Financial Inc. acquired a new position in Mondelez International in the 4th quarter valued at $256,832,000. Van ECK Associates Corp lifted its position in shares of Mondelez International by 2,560.0% during the 4th quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company's stock valued at $203,749,000 after acquiring an additional 3,282,937 shares during the period. National Bank of Canada FI grew its holdings in shares of Mondelez International by 173.7% during the 3rd quarter. National Bank of Canada FI now owns 3,049,440 shares of the company's stock worth $224,652,000 after purchasing an additional 1,935,356 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Mondelez International by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 8,806,832 shares of the company's stock worth $526,032,000 after purchasing an additional 1,049,498 shares during the period. Institutional investors own 78.32% of the company's stock.

Mondelez International Trading Down 0.7 %

Shares of Mondelez International stock traded down $0.48 during midday trading on Thursday, reaching $65.71. 5,010,139 shares of the company's stock traded hands, compared to its average volume of 8,029,830. The stock has a 50 day moving average of $63.99 and a 200-day moving average of $64.28. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The company has a market cap of $85.00 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 4.34 and a beta of 0.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68.

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Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. As a group, equities analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Mondelez International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors 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 dividend yield of 2.86%. Mondelez International's payout ratio is 54.97%.

Wall Street Analysts Forecast Growth

MDLZ has been the topic of a number of research analyst reports. Morgan Stanley began coverage on Mondelez International in a report on Monday, March 24th. They issued an "overweight" rating and a $69.00 target price on the stock. Citigroup decreased their target price on Mondelez International from $78.00 to $71.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on shares of Mondelez International from $75.00 to $69.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Mondelez International from $67.00 to $62.00 and set a "hold" rating on the stock in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group cut shares of Mondelez International from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $75.00 to $62.00 in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.45.

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.