California Public Employees Retirement System Decreases Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

California Public Employees Retirement System lowered its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,062,918 shares of the company’s stock after selling 68,217 shares during the quarter. California Public Employees Retirement System’s holdings in Mondelez International were worth $302,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDLZ. United Bank increased its stake in shares of Mondelez International by 12.7% in the third quarter. United Bank now owns 22,649 shares of the company’s stock worth $1,669,000 after buying an additional 2,549 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of Mondelez International by 61.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 15,565 shares of the company’s stock valued at $1,147,000 after acquiring an additional 5,922 shares in the last quarter. Fiduciary Trust Co raised its holdings in shares of Mondelez International by 5.8% during the third quarter. Fiduciary Trust Co now owns 27,461 shares of the company’s stock worth $2,023,000 after purchasing an additional 1,511 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Mondelez International by 32.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,068,477 shares of the company’s stock worth $226,055,000 after buying an additional 751,444 shares during the last quarter. Finally, Ironwood Investment Counsel LLC boosted its holdings in shares of Mondelez International by 1.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 29,406 shares of the company’s stock valued at $2,166,000 after buying an additional 478 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ opened at $67.72 on Friday. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The firm has a market cap of $87.60 billion, a P/E ratio of 19.80, a PEG ratio of 4.34 and a beta of 0.50. The stock has a fifty day moving average price of $62.25 and a two-hundred day moving average price of $64.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. Research analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio is currently 54.97%.

Mondelez International announced that its board has approved a stock buyback program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDLZ. DZ Bank cut shares of Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 target price on the stock. in a report on Friday, February 7th. Piper Sandler boosted their price objective on Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada lowered their price objective on Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. UBS Group cut their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Jefferies Financial Group lowered shares of Mondelez International from a “buy” rating to a “hold” rating and lowered their price target for the stock from $75.00 to $62.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.50.

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.