Advocate Group LLC lowered its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ – Free Report) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,625 shares of the company’s stock after selling 3,130 shares during the quarter. Advocate Group LLC’s holdings in Mondelez International were worth $694,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC bought a new stake in Mondelez International during the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International during the 3rd quarter worth about $27,000. Richardson Financial Services Inc. grew its holdings in Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in Mondelez International during the 3rd quarter worth about $38,000. Finally, Hara Capital LLC bought a new stake in Mondelez International during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 78.32% of the company’s stock.
Mondelez International Stock Performance
Shares of MDLZ stock opened at $57.42 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The company has a market capitalization of $76.78 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 2.96 and a beta of 0.54. The company’s 50 day moving average price is $60.74 and its two-hundred day moving average price is $66.93. Mondelez International, Inc. has a 52 week low of $55.97 and a 52 week high of $77.20.
Mondelez International declared that its board has approved a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Mondelez International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.27%. Mondelez International’s dividend payout ratio is currently 66.67%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on MDLZ. Jefferies Financial Group lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $62.00 in a research note on Tuesday. Citigroup reduced their target price on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $61.00 target price (down previously from $74.00) on shares of Mondelez International in a research note on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Stifel Nicolaus reduced their price objective on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Mondelez International currently has an average rating of “Moderate Buy” and an average price target of $73.06.
Read Our Latest Stock Analysis on Mondelez International
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.
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