Truist Financial Corp Sells 67,864 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Truist Financial Corp lessened its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 816,882 shares of the company’s stock after selling 67,864 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Mondelez International worth $48,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NTV Asset Management LLC lifted its position in shares of Mondelez International by 4.8% in the 4th quarter. NTV Asset Management LLC now owns 4,628 shares of the company’s stock worth $276,000 after purchasing an additional 212 shares during the period. Sierra Ocean LLC purchased a new stake in Mondelez International in the fourth quarter worth about $32,000. J.W. Cole Advisors Inc. boosted its position in Mondelez International by 6.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 9,481 shares of the company’s stock valued at $566,000 after acquiring an additional 576 shares in the last quarter. MOKAN Wealth Management Inc. purchased a new position in shares of Mondelez International during the 4th quarter worth approximately $1,669,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Mondelez International in the 4th quarter worth approximately $1,682,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Analyst Ratings Changes

MDLZ has been the topic of several research reports. Jefferies Financial Group lowered Mondelez International from a “buy” rating to a “hold” rating and dropped their price target for the company from $75.00 to $62.00 in a research report on Tuesday, January 21st. UBS Group reduced their target price on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Dbs Bank cut shares of Mondelez International from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 7th. DZ Bank cut shares of Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.74.

Mondelez International Price Performance

NASDAQ MDLZ opened at $60.82 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.42 and a current ratio of 0.68. The company has a market capitalization of $81.33 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 4.04 and a beta of 0.54. The stock has a 50-day moving average of $58.98 and a 200 day moving average of $66.11. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $76.06.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. Mondelez International’s payout ratio is 54.97%.

Mondelez International announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.