Independence Bank of Kentucky Acquires 6,622 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Independence Bank of Kentucky lifted its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 32.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,949 shares of the company’s stock after buying an additional 6,622 shares during the period. Independence Bank of Kentucky’s holdings in Mondelez International were worth $1,610,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MDLZ. Truvestments Capital LLC purchased a new stake in Mondelez International during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new position in shares of Mondelez International during the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its holdings in Mondelez International by 100.0% during 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 period. Highline Wealth Partners LLC bought a new stake in Mondelez International in the third quarter worth $38,000. Finally, Hara Capital LLC purchased a new position in Mondelez International during the third quarter worth $45,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDLZ has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $61.00 price objective (down from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $70.00 to $63.00 in a report on Friday. Bank of America lifted their price objective 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. Finally, Jefferies Financial Group cut Mondelez International from a “buy” rating to a “hold” rating and lowered their target price for the stock from $75.00 to $62.00 in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.76.

Mondelez International Stock Performance

Shares of Mondelez International stock opened at $57.99 on Friday. The company has a 50 day moving average price of $60.09 and a 200 day moving average price of $66.67. The firm has a market capitalization of $77.54 billion, a P/E ratio of 20.56, a PEG ratio of 3.05 and a beta of 0.54. 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.

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, topping analysts’ consensus estimates of $0.85 by $0.14. The business 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% on a year-over-year basis. During the same quarter last year, the company posted $0.82 earnings per share. Sell-side analysts expect that Mondelez International, Inc. will post 3.44 EPS for the current year.

Mondelez International declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Mondelez International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 3.24%. Mondelez International’s dividend payout ratio (DPR) is 66.67%.

Mondelez International 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.