Gilliland Jeter Wealth Management LLC Reduces Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Gilliland Jeter Wealth Management LLC decreased its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 12.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,105 shares of the company’s stock after selling 993 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Mondelez International were worth $424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Mondelez International by 3.2% during the 3rd quarter. State Street Corp now owns 60,151,987 shares of the company’s stock valued at $4,459,239,000 after acquiring an additional 1,851,247 shares during the period. Geode Capital Management LLC boosted its holdings in 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. FMR LLC boosted its holdings in Mondelez International by 14.2% during the 3rd quarter. FMR LLC now owns 18,255,657 shares of the company’s stock valued at $1,344,894,000 after acquiring an additional 2,268,639 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Mondelez International by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock valued at $1,268,242,000 after acquiring an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in Mondelez International by 12,057.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after acquiring an additional 12,470,573 shares during the period. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Trading Up 0.7 %

Shares of NASDAQ:MDLZ opened at $57.83 on Friday. The business’s 50-day moving average is $59.61 and its 200 day moving average is $66.47. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The firm has a market capitalization of $77.33 billion, a P/E ratio of 20.51, a P/E/G ratio of 3.12 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. On average, research analysts predict that Mondelez International, Inc. will post 3.44 earnings per share for the current fiscal year.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio is currently 66.67%.

Mondelez International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MDLZ shares. Piper Sandler cut Mondelez International from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $63.00 in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group lowered Mondelez International from a “buy” rating to a “hold” rating and decreased their target price for the company from $75.00 to $62.00 in a research report on Tuesday, January 21st. Finally, Bank of America lifted their target price on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.72.

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.