Allstate Corp Acquires Shares of 39,836 Mondelez International, Inc. (NASDAQ:MDLZ)

Allstate Corp bought a new position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) during the fourth quarter, Holdings Channel.com reports. The firm bought 39,836 shares of the company’s stock, valued at approximately $2,379,000.

Other hedge funds have also modified their holdings of the company. Marshall Investment Management LLC acquired a new position in Mondelez International during the 4th quarter worth $26,000. Hager Investment Management Services LLC bought a new stake in shares of Mondelez International during the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Mondelez International during the fourth quarter worth $31,000. McClarren Financial Advisors Inc. acquired a new position in shares of Mondelez International during the fourth quarter valued at $32,000. Finally, Sierra Ocean LLC bought a new position in Mondelez International in the fourth quarter valued at about $32,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Stock Performance

MDLZ opened at $67.72 on Friday. The company has a market capitalization of $87.60 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 4.34 and a beta of 0.50. The business’s 50-day moving average price is $62.25 and its two-hundred day moving average price is $64.81. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. 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 earnings per share (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%. Equities analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Mondelez International Dividend Announcement

The firm also recently announced 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%.

Analysts Set New Price Targets

Several brokerages have weighed in on MDLZ. UBS Group dropped their price objective on Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Mizuho boosted their price target 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. Royal Bank of Canada cut their price objective 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. Wells Fargo & Company lowered their target price on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, DZ Bank downgraded Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Mondelez International presently has an average rating of “Moderate Buy” and a consensus price target of $69.50.

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.