Ritholtz Wealth Management Decreases Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Ritholtz Wealth Management cut its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 23.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 43,022 shares of the company’s stock after selling 12,933 shares during the quarter. Ritholtz Wealth Management’s holdings in Mondelez International were worth $2,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in shares of Mondelez International during the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Mondelez International during the third quarter worth $27,000. Richardson Financial Services Inc. boosted its holdings in shares of Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of Mondelez International in the third quarter valued at $38,000. Finally, Hara Capital LLC bought a new stake in shares of Mondelez International during the 3rd quarter valued at $45,000. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Down 0.2 %

Shares of MDLZ opened at $57.86 on Friday. The firm has a market cap of $77.37 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.99 and a beta of 0.54. Mondelez International, Inc. has a 1 year low of $55.97 and a 1 year high of $77.20. The stock has a 50 day simple moving average of $61.76 and a two-hundred day simple moving average of $67.30. 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 (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. On average, analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Mondelez International declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Mondelez International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Tuesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

MDLZ has been the subject of several analyst reports. Piper Sandler cut their target price on Mondelez International from $84.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday. 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. Bank of America increased their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their price target for the company from $78.00 to $67.00 in a research report on Thursday, December 12th. Finally, Evercore ISI increased their price objective on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.93.

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.