First City Capital Management Inc. Cuts Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

First City Capital Management Inc. trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,721 shares of the company’s stock after selling 195 shares during the period. First City Capital Management Inc.’s holdings in Mondelez International were worth $939,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Mondelez International by 3.2% during the third quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after acquiring an additional 1,851,247 shares during the last quarter. Geode Capital Management LLC increased its stake in Mondelez International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after purchasing an additional 341,203 shares in the last quarter. FMR LLC raised its holdings in shares of Mondelez International by 14.2% in the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after buying an additional 2,268,639 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Mondelez International by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock worth $1,268,242,000 after buying an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings in shares of Mondelez International by 12,057.4% during the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after buying an additional 12,470,573 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MDLZ shares. Citigroup cut their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Piper Sandler lifted their price target on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on Mondelez International from $78.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Mondelez International presently has an average rating of “Moderate Buy” and a consensus price target of $79.07.

Mondelez International Trading Up 0.8 %

MDLZ traded up $0.48 during mid-day trading on Friday, hitting $59.98. 2,983,846 shares of the stock were exchanged, compared to its average volume of 4,512,434. The company has a market cap of $80.20 billion, a PE ratio of 21.27, a PEG ratio of 2.80 and a beta of 0.53. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $63.90 and its two-hundred day moving average is $67.91. Mondelez International, Inc. has a 1-year low of $58.90 and a 1-year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. The firm had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Mondelez International declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.47 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 3.13%. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

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.