Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,549 shares of the company’s stock after selling 27,142 shares during the period. M&T Bank Corp’s holdings in Mondelez International were worth $17,593,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Canopy Partners LLC lifted its holdings in shares of Mondelez International by 1.2% in the 3rd quarter. Canopy Partners LLC now owns 13,335 shares of the company’s stock valued at $982,000 after purchasing an additional 161 shares during the last quarter. Hardy Reed LLC lifted its holdings in shares of Mondelez International by 1.4% in the 3rd quarter. Hardy Reed LLC now owns 11,511 shares of the company’s stock valued at $848,000 after purchasing an additional 161 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Mondelez International by 2.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,641 shares of the company’s stock valued at $563,000 after purchasing an additional 163 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Mondelez International by 1.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,396 shares of the company’s stock valued at $1,134,000 after purchasing an additional 173 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of Mondelez International by 7.4% in the 3rd quarter. Continuum Advisory LLC now owns 2,542 shares of the company’s stock valued at $187,000 after purchasing an additional 175 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Dbs Bank downgraded Mondelez International from a “strong-buy” rating to a “hold” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, January 22nd. Argus cut Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. UBS Group dropped their price target on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Piper Sandler cut Mondelez International from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $70.00 to $63.00 in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.74.

Mondelez International Price Performance

MDLZ stock opened at $66.30 on Thursday. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s 50 day moving average price is $59.77 and its 200 day moving average price is $65.61. The firm has a market cap of $85.76 billion, a P/E ratio of 19.39, a PEG ratio of 4.34 and a beta of 0.50.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. On average, sell-side analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Mondelez International Announces Dividend

The business also recently announced 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 yield of 2.84%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International’s payout ratio is currently 54.97%.

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.