Kennedy Investment Group Acquires New Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Kennedy Investment Group acquired a new stake in Mondelez International, Inc. (NASDAQ:MDLZ) during the 4th quarter, HoldingsChannel reports. The firm acquired 5,234 shares of the company’s stock, valued at approximately $313,000.

Other institutional investors have also bought and sold shares of the company. Czech National Bank raised its holdings in Mondelez International by 6.5% during the 4th quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after acquiring an additional 17,815 shares during the period. Legacy Private Trust Co. raised its holdings in Mondelez International by 33.2% during the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after acquiring an additional 957 shares during the period. Benjamin Edwards Inc. raised its holdings in Mondelez International by 1,904.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock valued at $31,369,000 after acquiring an additional 404,567 shares during the period. Kingsview Wealth Management LLC raised its holdings in Mondelez International by 14.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock valued at $8,430,000 after acquiring an additional 14,278 shares during the period. Finally, Miracle Mile Advisors LLC raised its holdings in Mondelez International by 374.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 22,124 shares of the company’s stock valued at $1,321,000 after acquiring an additional 17,465 shares during the period. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Down 2.4 %

MDLZ opened at $56.91 on Wednesday. The business’s fifty day simple moving average is $60.63 and its 200 day simple moving average is $66.90. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. Mondelez International, Inc. has a 52 week low of $55.97 and a 52 week high of $77.20. The stock has a market cap of $76.10 billion, a PE ratio of 20.18, a P/E/G ratio of 2.96 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Mondelez International, Inc. will post 3.45 earnings per share for the current fiscal year.

Mondelez International announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Mondelez International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 annualized dividend and a yield of 3.30%. Mondelez International’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

MDLZ has been the topic of a number of analyst reports. Bank of America boosted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Piper Sandler lowered their target price on shares of Mondelez International from $84.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus decreased their price target on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group cut shares of Mondelez International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $62.00 in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, January 22nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.06.

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.