Retirement Systems of Alabama Decreases Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Retirement Systems of Alabama lowered its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 848,275 shares of the company's stock after selling 57,471 shares during the period. Retirement Systems of Alabama owned about 0.06% of Mondelez International worth $62,492,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. ORG Partners LLC bought a new position in shares of Mondelez International in the second quarter worth approximately $142,000. AdvisorNet Financial Inc grew its holdings in Mondelez International by 15.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,630 shares of the company's stock worth $107,000 after acquiring an additional 223 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Mondelez International by 12.8% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,647 shares of the company's stock valued at $1,293,000 after acquiring an additional 2,228 shares during the last quarter. Fiduciary Financial Group LLC purchased a new stake in shares of Mondelez International during the second quarter worth about $228,000. Finally, Royal Fund Management LLC grew its stake in shares of Mondelez International by 2.4% in the second quarter. Royal Fund Management LLC now owns 12,815 shares of the company's stock worth $839,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on MDLZ. Wells Fargo & Company lowered their price target on Mondelez International from $78.00 to $74.00 and set an "overweight" rating for the company in a research report on Thursday, December 5th. Redburn Atlantic began coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $82.00 price target for the company. Evercore ISI lifted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $78.00 to $67.00 in a report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of Mondelez International from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Mondelez International has an average rating of "Moderate Buy" and an average target price of $79.07.

Mondelez International Stock Down 1.1 %

Shares of Mondelez International stock traded down $0.70 during midday trading on Friday, hitting $61.93. The company had a trading volume of 7,058,430 shares, compared to its average volume of 6,911,103. The company has a 50 day moving average of $67.18 and a 200 day moving average of $68.68. The stock has a market capitalization of $82.81 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.85 and a beta of 0.53. Mondelez International, Inc. has a 52-week low of $60.33 and a 52-week high of $77.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63.

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 the consensus estimate of $0.85 by $0.14. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The company's revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. On average, equities analysts predict that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Mondelez International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 annualized dividend and a yield of 3.04%. Mondelez International's dividend payout ratio (DPR) is presently 66.67%.

Mondelez International declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are often 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.