Ridgecrest Wealth Partners LLC Sells 1,200 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Ridgecrest Wealth Partners LLC lowered its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,008 shares of the company’s stock after selling 1,200 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Mondelez International were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Mondelez International by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 897,335 shares of the company’s stock valued at $58,722,000 after acquiring an additional 18,044 shares in the last quarter. Ascent Group LLC raised its position in shares of Mondelez International by 1.0% in the second quarter. Ascent Group LLC now owns 57,819 shares of the company’s stock valued at $3,784,000 after purchasing an additional 563 shares during the period. Aviso Wealth Management lifted its stake in shares of Mondelez International by 203.0% in the second quarter. Aviso Wealth Management now owns 18,762 shares of the company’s stock worth $1,228,000 after buying an additional 12,569 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Mondelez International by 9.8% during the 2nd quarter. NewEdge Advisors LLC now owns 590,009 shares of the company’s stock worth $38,610,000 after buying an additional 52,768 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Mondelez International by 5.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 103,824 shares of the company’s stock worth $6,794,000 after purchasing an additional 5,777 shares during the period. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Price Performance

Shares of Mondelez International stock opened at $57.42 on Monday. The firm’s 50-day moving average price is $60.74 and its two-hundred day moving average price is $66.95. Mondelez International, Inc. has a 1-year low of $55.97 and a 1-year high of $77.20. The stock has a market capitalization of $76.78 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.96 and a beta of 0.54. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results 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. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same period last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Mondelez International, Inc. will post 3.45 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has authorized a share 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler lowered their target price on 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 cut their target price on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Friday. Redburn Atlantic assumed coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target on the stock. The Goldman Sachs Group reduced their target price on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, UBS Group decreased their price objective on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Mondelez International presently has an average rating of “Moderate Buy” and an average target price 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.