Peapack Gladstone Financial Corp Sells 4,865 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Peapack Gladstone Financial Corp trimmed its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,768 shares of the company’s stock after selling 4,865 shares during the period. Peapack Gladstone Financial Corp’s holdings in Mondelez International were worth $5,435,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MDLZ. Truvestments Capital LLC bought a new stake in shares of Mondelez International during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC acquired a new position in Mondelez International during the third quarter worth $27,000. Richardson Financial Services Inc. raised its holdings in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Mondelez International in the second quarter valued at $29,000. Finally, Highline Wealth Partners LLC bought a new position in Mondelez International in the 3rd quarter valued at about $38,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Trading Down 1.1 %

Shares of MDLZ opened at $61.93 on Friday. Mondelez International, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $77.20. The business has a 50-day moving average of $66.99 and a 200 day moving average of $68.63. The firm has a market cap of $82.81 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.14. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. As a group, research analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current year.

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

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 3.04%. Mondelez International’s payout ratio is 66.67%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MDLZ shares. Citigroup lowered their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Bank of America increased their price target on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI increased their target price 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. Wells Fargo & Company cut their price target on shares of Mondelez International from $78.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, December 5th. Finally, Stifel Nicolaus increased their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.07.

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.