Parsons Capital Management Inc. RI Cuts Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Parsons Capital Management Inc. RI reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,075 shares of the company’s stock after selling 14,439 shares during the period. Parsons Capital Management Inc. RI’s holdings in Mondelez International were worth $3,170,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MDLZ. Truvestments Capital LLC purchased a new stake in shares of Mondelez International during the third quarter valued at $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Mondelez International during the third quarter valued at $27,000. Richardson Financial Services Inc. boosted its position in shares of Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Mondelez International during the third quarter valued at $38,000. Finally, Albion Financial Group UT purchased a new stake in shares of Mondelez International during the fourth quarter valued at $38,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Price Performance

Shares of Mondelez International stock opened at $58.69 on Monday. The stock has a market cap of $78.48 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.96 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The stock has a 50 day moving average price of $60.74 and a 200-day moving average price of $66.95. Mondelez International, Inc. has a one year low of $55.97 and a one year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts expect that Mondelez International, Inc. will post 3.45 EPS for the current year.

Mondelez International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio is currently 66.67%.

Mondelez International announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

MDLZ has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Stifel Nicolaus lowered their target price on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, January 22nd. Piper Sandler lowered their target price on Mondelez International from $84.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Bank of America increased their target price on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.06.

About Mondelez International

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.