Principal Financial Group Inc. Sells 3,220 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Principal Financial Group Inc. cut its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,563,847 shares of the company’s stock after selling 3,220 shares during the period. Principal Financial Group Inc.’s holdings in Mondelez International were worth $93,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Mondelez International in the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the 3rd quarter valued at about $27,000. Richardson Financial Services Inc. increased 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 valued at $28,000 after buying an additional 200 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Mondelez International in the 4th quarter valued at about $27,000. Finally, Highline Wealth Partners LLC bought a new stake in Mondelez International in the 3rd quarter valued at about $38,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Price Performance

Mondelez International stock opened at $61.18 on Wednesday. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. 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 business’s 50 day simple moving average is $58.97 and its 200 day simple moving average is $66.06. The company has a market cap of $81.81 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 4.04 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. Sell-side analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International declared that its board has approved a stock 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 buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Mondelez International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 3.07%. Mondelez International’s payout ratio is 54.97%.

Analysts Set New Price Targets

MDLZ has been the subject of a number of research analyst reports. Mizuho boosted their target price on Mondelez International from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Citigroup decreased their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and cut their price target for the company from $70.00 to $63.00 in a research note on Friday, January 31st. Redburn Atlantic began coverage on Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price target for the company. Finally, Wells Fargo & Company cut their price target on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Mondelez International currently has an average rating of “Moderate Buy” and a consensus price target of $69.74.

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.