Mondelez International, Inc. (NASDAQ:MDLZ) Position Trimmed by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 381,685 shares of the company’s stock after selling 51,744 shares during the quarter. Fifth Third Bancorp’s holdings in Mondelez International were worth $22,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MDLZ. Czech National Bank boosted its stake in shares of Mondelez International by 6.5% during the 4th quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after buying an additional 17,815 shares during the period. Legacy Private Trust Co. raised its holdings in shares of Mondelez International by 33.2% during the fourth quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after acquiring an additional 957 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Mondelez International by 1,904.9% during the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock valued at $31,369,000 after purchasing an additional 404,567 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after purchasing an additional 14,278 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in shares of Mondelez International by 374.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 22,124 shares of the company’s stock worth $1,321,000 after purchasing an additional 17,465 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDLZ has been the subject of several recent research reports. UBS Group lowered their price target on Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price target on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday. The Goldman Sachs Group reduced their price objective 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. Piper Sandler cut 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. Finally, Redburn Atlantic assumed 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. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.06.

Mondelez International Price Performance

NASDAQ:MDLZ opened at $57.42 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. Mondelez International, Inc. has a one year low of $55.97 and a one year high of $77.20. The company has a fifty day moving average price of $60.74 and a 200 day moving average price of $66.93. The stock has a market cap of $76.78 billion, a P/E ratio of 20.36, a PEG ratio of 2.96 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Mondelez International, Inc. will post 3.45 earnings per share for the current year.

Mondelez International Announces Dividend

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

Mondelez International announced that its board has authorized a share buyback program on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.