Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 25.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 71,887 shares of the company’s stock after selling 24,367 shares during the period. Picton Mahoney Asset Management’s holdings in Mondelez International were worth $4,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Mondelez International by 430.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company’s stock worth $5,520,000 after buying an additional 74,975 shares during the last quarter. Czech National Bank boosted its position in Mondelez International by 6.5% during the 4th quarter. Czech National Bank now owns 289,931 shares of the company’s stock worth $17,318,000 after purchasing an additional 17,815 shares during the period. Buckingham Capital Management Inc. boosted its position in Mondelez International by 25.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company’s stock worth $5,578,000 after purchasing an additional 18,961 shares during the period. Legacy Private Trust Co. boosted its position in Mondelez International by 33.2% during the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after purchasing an additional 957 shares during the period. Finally, Kennedy Investment Group purchased a new stake in Mondelez International during the 4th quarter worth $313,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDLZ has been the subject of a number of research reports. Piper Sandler cut shares of Mondelez International from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $70.00 to $63.00 in a research report on Friday, January 31st. Barclays decreased their price objective on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research report on Wednesday, January 22nd. Citigroup decreased their price objective on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and a consensus target price of $69.74.

Mondelez International Price Performance

MDLZ opened at $64.31 on Friday. The company’s 50-day moving average price is $60.69 and its 200 day moving average price is $65.38. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The firm has a market cap of $83.19 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results 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%. As a group, sell-side analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders 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 dividend yield of 2.92%. Mondelez International’s payout ratio is currently 54.97%.

Mondelez International declared that its board has approved a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.