Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 535,107 shares of the company's stock after selling 8,874 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Mondelez International were worth $31,962,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDLZ. Mizuho Securities USA LLC boosted its holdings in shares of Mondelez International by 12,057.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company's stock worth $926,327,000 after purchasing an additional 12,470,573 shares during the period. Raymond James Financial Inc. purchased a new position in Mondelez International during the 4th quarter valued at $256,832,000. Van ECK Associates Corp boosted its holdings in 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. Ilex Capital Partners UK LLP purchased a new position in Mondelez International during the 3rd quarter valued at $219,045,000. Finally, FMR LLC boosted its holdings in Mondelez International by 14.2% during the 3rd quarter. FMR LLC now owns 18,255,657 shares of the company's stock valued at $1,344,894,000 after acquiring an additional 2,268,639 shares during the period. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Stock Performance

Mondelez International stock traded down $2.34 during midday trading on Wednesday, hitting $65.51. 4,251,906 shares of the company were exchanged, compared to its average volume of 7,474,084. The firm has a market capitalization of $84.74 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The business has a fifty day simple moving average of $60.39 and a two-hundred day simple moving average of $65.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68.

Remove Ads

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. On average, sell-side analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International announced that its board has authorized 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 repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.87%. Mondelez International's dividend payout ratio is currently 54.97%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MDLZ shares. Royal Bank of Canada lowered their target price on Mondelez International from $75.00 to $69.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. UBS Group reduced their price target on Mondelez International from $76.00 to $63.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Piper Sandler lowered Mondelez International from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $70.00 to $63.00 in a research report on Friday, January 31st. The Goldman Sachs Group reduced their price target on Mondelez International from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Jefferies Financial Group lowered Mondelez International from a "buy" rating to a "hold" rating and reduced their price target for the stock from $75.00 to $62.00 in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.74.

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.