Principal Financial Group Inc. Grows Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Principal Financial Group Inc. lifted its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,567,067 shares of the company's stock after purchasing an additional 82,742 shares during the period. Principal Financial Group Inc. owned 0.12% of Mondelez International worth $115,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MDLZ. Truvestments Capital LLC bought a new stake in shares of Mondelez International during the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC bought a new stake in shares of Mondelez International during the 3rd quarter valued at about $27,000. Richardson Financial Services Inc. boosted its position in shares of 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 purchasing an additional 200 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Mondelez International during the 2nd quarter valued at about $29,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Mondelez International during the 3rd quarter valued at about $38,000. Institutional investors own 78.32% of the company's stock.

Mondelez International Stock Performance

MDLZ stock traded up $0.12 during midday trading on Friday, hitting $59.39. The company's stock had a trading volume of 32,240,488 shares, compared to its average volume of 7,093,852. The stock has a market cap of $79.42 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.85 and a beta of 0.53. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The stock's 50-day moving average price is $65.93 and its 200 day moving average price is $68.38. Mondelez International, Inc. has a 1 year low of $59.10 and a 1 year high of $77.20.

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, topping 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 company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. During the same period in the previous year, the firm earned $0.82 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current year.

Mondelez International declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to purchase 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 shares are undervalued.

Mondelez International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.17%. Mondelez International's payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MDLZ. Citigroup cut their target price on Mondelez International from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company cut their price target on Mondelez International from $78.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, December 5th. Evercore ISI increased their price target on Mondelez International from $79.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. Bank of America increased their price target on Mondelez International from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered Mondelez International from a "buy" rating to a "hold" rating and cut their price target for the stock from $78.00 to $67.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.07.

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.