Mondelez International, Inc. (NASDAQ:MDLZ) Holdings Cut by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,464 shares of the company’s stock after selling 7,468 shares during the period. Magellan Asset Management Ltd’s holdings in Mondelez International were worth $4,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Marshall Investment Management LLC acquired a new stake in shares of Mondelez International during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new position in Mondelez International during the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Mondelez International in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in Mondelez International in the fourth quarter worth approximately $32,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Mondelez International during the 4th quarter worth $32,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Trading Down 2.2 %

Shares of NASDAQ MDLZ opened at $66.13 on Thursday. 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 capitalization of $85.54 billion, a P/E ratio of 19.34, a P/E/G ratio of 4.34 and a beta of 0.50. 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’s 50 day simple moving average is $62.85 and its 200 day simple moving average is $64.66.

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 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, analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current year.

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

Mondelez International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.84%. 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

MDLZ has been the subject of a number of recent research reports. Morgan Stanley started coverage on shares of Mondelez International in a report on Monday, March 24th. They issued an “overweight” rating and a $69.00 price objective for the company. Citigroup decreased their price target on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Mizuho raised their price objective on Mondelez International from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. DZ Bank cut Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a research report on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.20.

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.