SouthState Corp Lowers Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

SouthState Corp decreased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,482 shares of the company's stock after selling 8,836 shares during the quarter. SouthState Corp's holdings in Mondelez International were worth $9,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDLZ. Canopy Partners LLC grew its position in shares of Mondelez International by 1.2% in the 3rd quarter. Canopy Partners LLC now owns 13,335 shares of the company's stock valued at $982,000 after buying an additional 161 shares during the last quarter. Hardy Reed LLC raised its stake in Mondelez International by 1.4% during the third quarter. Hardy Reed LLC now owns 11,511 shares of the company's stock worth $848,000 after buying an additional 161 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Mondelez International by 7.4% in the third quarter. Continuum Advisory LLC now owns 2,542 shares of the company's stock valued at $187,000 after buying an additional 175 shares during the period. First Horizon Advisors Inc. boosted its position in Mondelez International by 1.8% during the fourth quarter. First Horizon Advisors Inc. now owns 10,499 shares of the company's stock valued at $627,000 after acquiring an additional 181 shares during the last quarter. Finally, Traphagen Investment Advisors LLC grew its holdings in Mondelez International by 0.8% during the 4th quarter. Traphagen Investment Advisors LLC now owns 23,619 shares of the company's stock worth $1,411,000 after acquiring an additional 187 shares during the period. Institutional investors own 78.32% of the company's stock.

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Mondelez International Stock Performance

Mondelez International stock traded down $0.05 during trading on Thursday, hitting $63.95. The stock had a trading volume of 6,013,605 shares, compared to its average volume of 7,432,299. The stock's 50 day moving average is $61.07 and its two-hundred day moving average is $65.24. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The stock has a market cap of $82.72 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly 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 return on equity of 16.75% and a net margin of 12.68%. As a group, analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International announced that its board has initiated a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Mondelez International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, March 31st. Mondelez International's dividend payout ratio (DPR) is presently 54.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MDLZ shares. Barclays decreased their target price on Mondelez International from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada decreased their target price on Mondelez International from $75.00 to $69.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. UBS Group cut their price target on Mondelez International from $76.00 to $63.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lowered their target price on Mondelez International from $61.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Finally, DZ Bank downgraded shares of Mondelez International from a "hold" rating to a "sell" rating and set a $52.00 price target for the company. in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.74.

About Mondelez International

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.