Pinnacle Financial Partners Inc Decreases Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Pinnacle Financial Partners Inc cut its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 28.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 128,354 shares of the company’s stock after selling 50,140 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Mondelez International were worth $7,723,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. 44 Wealth Management LLC increased its stake in Mondelez International by 2.6% during the 4th quarter. 44 Wealth Management LLC now owns 7,645 shares of the company’s stock valued at $457,000 after buying an additional 191 shares during the period. Boyd Watterson Asset Management LLC OH increased its stake in Mondelez International by 222.6% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 14,147 shares of the company’s stock valued at $845,000 after buying an additional 9,762 shares during the period. PMG Wealth Management Inc. acquired a new position in Mondelez International during the 4th quarter valued at about $308,000. Paradigm Asset Management Co. LLC increased its stake in Mondelez International by 22.4% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 22,366 shares of the company’s stock valued at $1,336,000 after buying an additional 4,100 shares during the period. Finally, Centricity Wealth Management LLC acquired a new position in Mondelez International during the 4th quarter valued at about $46,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Stock Performance

Shares of MDLZ opened at $64.70 on Friday. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $76.06. The company has a 50-day moving average of $58.98 and a two-hundred day moving average of $65.89. The stock has a market cap of $83.69 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 4.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48.

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, equities research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Dividend Announcement

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 2.91%. 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 repurchase program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Wednesday, January 22nd. 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 research note on Friday, February 7th. Piper Sandler cut shares of Mondelez International from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $70.00 to $63.00 in a research note on Friday, January 31st. Barclays lowered their price objective on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.74.

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.