Atlantic Union Bankshares Corp Sells 6,817 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Atlantic Union Bankshares Corp lessened its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 10.0% during the fourth quarter, Holdings Channel reports. The firm owned 61,173 shares of the company’s stock after selling 6,817 shares during the period. Atlantic Union Bankshares Corp’s holdings in Mondelez International were worth $3,654,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MDLZ. Czech National Bank lifted its holdings in 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 acquiring an additional 17,815 shares during the period. Buckingham Capital Management Inc. lifted its holdings in Mondelez International by 25.5% during the fourth quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company’s stock worth $5,578,000 after acquiring an additional 18,961 shares during the period. Legacy Private Trust Co. lifted its holdings in Mondelez International by 33.2% during the fourth 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. ICICI Prudential Asset Management Co Ltd increased its position in Mondelez International by 430.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company’s stock worth $5,520,000 after buying an additional 74,975 shares during the last quarter. Finally, Kennedy Investment Group purchased a new stake in Mondelez International in the fourth quarter worth $313,000. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Up 1.5 %

Shares of NASDAQ MDLZ opened at $67.74 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $87.62 billion, a P/E ratio of 19.81, a PEG ratio of 4.34 and a beta of 0.50. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The firm has a 50-day simple moving average of $60.06 and a two-hundred day simple moving average of $65.60.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly 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 net margin of 12.68% and a return on equity of 16.75%. Research analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

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

Mondelez International Dividend Announcement

The firm 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. This represents a $1.88 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, March 31st. Mondelez International’s payout ratio is 54.97%.

Wall Street Analyst Weigh In

MDLZ has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus reduced their price target on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Barclays reduced their price target on Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Argus cut Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Mizuho boosted their target price on Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock 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.