Broadway Wealth Solutions Inc. Takes Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Broadway Wealth Solutions Inc. bought a new stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) during the 4th quarter, HoldingsChannel reports. The firm bought 4,896 shares of the company’s stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Mondelez International during the 4th quarter worth approximately $1,118,755,000. Raymond James Financial Inc. bought a new stake in shares of Mondelez International in the fourth quarter worth $256,832,000. Van ECK Associates Corp raised its holdings in Mondelez International by 2,560.0% in the fourth quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock valued at $203,749,000 after acquiring an additional 3,282,937 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in Mondelez International during the 3rd quarter valued at $219,045,000. Finally, Holocene Advisors LP acquired a new position in Mondelez International during the 3rd quarter worth $159,823,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Up 1.8 %

MDLZ stock opened at $67.50 on Friday. The firm’s 50-day moving average is $62.06 and its two-hundred day moving average is $64.94. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, February 4th. The company reported $0.65 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 forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Mondelez International Announces Dividend

The company 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 dividend of $0.47 per share. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 2.79%. Mondelez International’s dividend payout ratio is currently 54.97%.

Analyst Ratings Changes

MDLZ has been the topic of several research analyst reports. Morgan Stanley started coverage on shares of Mondelez International in a research report on Monday. They set an “overweight” rating and a $69.00 price target on the stock. Royal Bank of Canada dropped their price target on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Piper Sandler raised their price objective on Mondelez International from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, Citigroup reduced their price target on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. 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’s stock. According to data from MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.50.

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.