CIBC Private Wealth Group LLC Sells 119,082 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

CIBC Private Wealth Group LLC decreased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,885,587 shares of the company’s stock after selling 119,082 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Mondelez International were worth $168,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. United Bank raised its stake in Mondelez International by 12.7% in the 3rd quarter. United Bank now owns 22,649 shares of the company’s stock worth $1,669,000 after purchasing an additional 2,549 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Mondelez International by 61.4% during the third quarter. CreativeOne Wealth LLC now owns 15,565 shares of the company’s stock worth $1,147,000 after purchasing an additional 5,922 shares during the period. Fiduciary Trust Co raised its position in shares of Mondelez International by 5.8% in the third quarter. Fiduciary Trust Co now owns 27,461 shares of the company’s stock valued at $2,023,000 after buying an additional 1,511 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Mondelez International by 32.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,068,477 shares of the company’s stock valued at $226,055,000 after buying an additional 751,444 shares during the period. Finally, Ironwood Investment Counsel LLC grew its position in Mondelez International by 1.7% during the third quarter. Ironwood Investment Counsel LLC now owns 29,406 shares of the company’s stock worth $2,166,000 after buying an additional 478 shares in the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Stock Up 0.3 %

NASDAQ:MDLZ opened at $67.72 on Friday. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $76.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $87.60 billion, a PE ratio of 19.80, a P/E/G ratio of 4.34 and a beta of 0.50. The firm’s 50 day simple moving average is $62.25 and its 200 day simple moving average is $64.81.

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

Mondelez International announced that its board has approved a share buyback 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 generally an indication that the company’s board believes its stock is undervalued.

Mondelez International Dividend Announcement

The business 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International’s dividend payout ratio is currently 54.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group downgraded Mondelez International from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $62.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group cut their price objective on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler boosted their target price on shares of Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada reduced their price target on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.50.

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.