Pictet Asset Management Holding SA Sells 15,282 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Pictet Asset Management Holding SA reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 572,825 shares of the company’s stock after selling 15,282 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Mondelez International were worth $34,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDLZ. Vanguard Group Inc. grew its position in Mondelez International by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 132,437,250 shares of the company’s stock valued at $7,910,477,000 after buying an additional 931,776 shares during the period. State Street Corp boosted its stake in shares of Mondelez International by 3.2% during the 3rd quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after acquiring an additional 1,851,247 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mondelez International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after acquiring an additional 341,203 shares during the period. Norges Bank bought a new position in Mondelez International in the 4th quarter worth $1,118,755,000. Finally, Bank of New York Mellon Corp lifted its position in Mondelez International by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 10,354,236 shares of the company’s stock valued at $618,458,000 after purchasing an additional 326,177 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Price Performance

MDLZ stock opened at $67.72 on Monday. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06. The firm has a market capitalization of $87.60 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. The company has a fifty day simple moving average of $62.25 and a two-hundred day simple moving average of $64.75. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

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

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

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given 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%.

Wall Street Analysts Forecast Growth

MDLZ has been the topic of several recent research reports. UBS Group decreased their price objective 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. Royal Bank of Canada lowered their price target on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Mizuho increased their price objective on shares of Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Piper Sandler lifted their target price on shares of Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, January 22nd. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

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.