Wells Fargo & Company MN Sells 41,503 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Wells Fargo & Company MN trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 0.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,137,241 shares of the company's stock after selling 41,503 shares during the quarter. Wells Fargo & Company MN owned approximately 0.76% of Mondelez International worth $605,497,000 at the end of the most recent quarter.

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

Mondelez International Stock Performance

NASDAQ:MDLZ traded down $1.05 during mid-day trading on Thursday, hitting $65.14. The stock had a trading volume of 4,384,740 shares, compared to its average volume of 10,896,777. The company's 50 day simple moving average is $63.99 and its 200 day simple moving average is $64.28. The stock has a market cap of $84.26 billion, a price-to-earnings ratio of 19.05, a PEG 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. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 EPS 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%. On average, equities research analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International announced that its board has initiated a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Mondelez International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International's dividend payout ratio is presently 54.97%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Dbs Bank cut Mondelez International from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 7th. Piper Sandler increased their target price on Mondelez International from $59.00 to $64.00 and gave the stock a "neutral" rating in a report on Wednesday. Mizuho lifted their price target on shares of Mondelez International from $64.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Morgan Stanley began coverage on Mondelez International in a report on Monday, March 24th. They set an "overweight" rating and a $69.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Mondelez International from $67.00 to $62.00 and set a "hold" rating on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.