Huntington National Bank Decreases Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Huntington National Bank reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 225,906 shares of the company’s stock after selling 3,347 shares during the period. Huntington National Bank’s holdings in Mondelez International were worth $13,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDLZ. ICICI Prudential Asset Management Co Ltd raised its stake in Mondelez International by 430.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company’s stock worth $5,520,000 after acquiring an additional 74,975 shares in the last quarter. Czech National Bank increased its position in shares of Mondelez International by 6.5% during the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock worth $17,318,000 after purchasing an additional 17,815 shares in the last quarter. Buckingham Capital Management Inc. lifted its holdings in shares of Mondelez International by 25.5% in the 4th quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company’s stock valued at $5,578,000 after purchasing an additional 18,961 shares during the last quarter. Legacy Private Trust Co. boosted its position in shares of Mondelez International by 33.2% in the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after purchasing an additional 957 shares during the period. Finally, Kennedy Investment Group purchased a new position in Mondelez International during the 4th quarter worth approximately $313,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley started coverage on Mondelez International in a research note on Monday, March 24th. They issued an “overweight” rating and a $69.00 price objective for the company. The Goldman Sachs Group decreased their price target on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Piper Sandler lifted their price objective on shares of Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Argus downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Jefferies Financial Group cut 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International presently has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $66.13 on Thursday. The firm’s fifty day simple moving average is $62.85 and its 200-day simple moving average is $64.66. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock has a market cap of $85.54 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $76.06.

Mondelez International (NASDAQ:MDLZ) last issued 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 return on equity of 16.75% and a net margin of 12.68%. Analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

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

Mondelez International Dividend Announcement

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 issued 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 2.84%. Mondelez International’s dividend payout ratio is presently 54.97%.

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.