CIBC Asset Management Inc Has $52.75 Million Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

CIBC Asset Management Inc cut its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 20.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 884,268 shares of the company’s stock after selling 229,144 shares during the period. CIBC Asset Management Inc’s holdings in Mondelez International were worth $52,748,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MDLZ. Truvestments Capital LLC bought a new stake in shares of Mondelez International in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the 3rd quarter valued at $27,000. Richardson Financial Services Inc. grew its position in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Mondelez International during the 4th quarter worth about $27,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Mondelez International during the third quarter valued at about $38,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDLZ. DZ Bank lowered Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a research note on Friday, February 7th. Royal Bank of Canada cut their target price on Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their price target on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus lowered 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. Finally, Mizuho lifted their target price on shares of Mondelez International from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.74.

Mondelez International Stock Performance

Shares of Mondelez International stock opened at $60.82 on Monday. The firm has a 50 day simple moving average of $58.98 and a 200 day simple moving average of $66.11. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.42. The firm has a market cap of $81.33 billion, a P/E ratio of 17.78, a P/E/G ratio of 4.04 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share 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%. Sell-side analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International declared that its Board of Directors has authorized 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 purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International’s dividend payout ratio (DPR) is presently 54.97%.

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.