Congress Asset Management Co. Sells 36,803 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Congress Asset Management Co. lowered its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,909 shares of the company’s stock after selling 36,803 shares during the quarter. Congress Asset Management Co.’s holdings in Mondelez International were worth $6,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Truvestments Capital LLC bought a new stake in shares of Mondelez International in the 3rd quarter worth $25,000. Prospera Private Wealth LLC purchased a new position in Mondelez International during the third quarter worth about $27,000. Hager Investment Management Services LLC bought a new stake in Mondelez International in the 4th quarter worth about $27,000. Richardson Financial Services Inc. increased its stake in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Mondelez International during the 4th quarter worth approximately $32,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $60.82 on Tuesday. The company has a 50 day moving average of $58.98 and a 200 day moving average of $66.11. The company has a current ratio of 0.68, a quick ratio of 0.42 and a debt-to-equity ratio of 0.58. The stock 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, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share (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%. As a group, sell-side analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Dividend Announcement

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 issued a dividend of $0.47 per share. 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 payout ratio is 54.97%.

Mondelez International declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDLZ. Deutsche Bank Aktiengesellschaft decreased their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research report on Wednesday, January 22nd. UBS Group decreased their target price 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. DZ Bank downgraded shares of Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a report on Friday, February 7th. Jefferies Financial Group lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their price target for the company from $75.00 to $62.00 in a research report on Tuesday, January 21st. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.74.

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.