Eastern Bank Lowers Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Eastern Bank reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 259,683 shares of the company’s stock after selling 345 shares during the period. Eastern Bank’s holdings in Mondelez International were worth $15,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Private Trust Co. grew its stake in Mondelez International by 33.2% in the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after acquiring an additional 957 shares during the period. Benjamin Edwards Inc. grew its stake in Mondelez International by 1,904.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock worth $31,369,000 after acquiring an additional 404,567 shares during the period. Kingsview Wealth Management LLC grew its stake in Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after acquiring an additional 14,278 shares during the period. Daiwa Securities Group Inc. grew its stake in Mondelez International by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company’s stock worth $18,349,000 after acquiring an additional 25,833 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Mondelez International by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,567,067 shares of the company’s stock valued at $115,446,000 after purchasing an additional 82,742 shares during the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Price Performance

Shares of MDLZ remained flat at $56.25 during midday trading on Monday. 12,783,143 shares of the stock traded hands, compared to its average volume of 9,379,275. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. Mondelez International, Inc. has a one year low of $55.97 and a one year high of $77.20. The firm has a 50 day moving average price of $62.59 and a 200 day moving average price of $67.57. The stock has a market cap of $75.22 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Mondelez International, Inc. will post 3.48 EPS for the current fiscal year.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Mondelez International’s dividend payout ratio is presently 66.67%.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on MDLZ. Wells Fargo & Company reiterated an “equal weight” rating and issued a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a report on Tuesday, January 7th. Citigroup decreased their price target on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Evercore ISI lifted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Piper Sandler lifted their price target on shares of Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $67.00 in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and an average price target of $77.64.

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.