Summit Financial LLC Has $1.37 Million Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Summit Financial LLC grew its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,792 shares of the company’s stock after acquiring an additional 2,556 shares during the quarter. Summit Financial LLC’s holdings in Mondelez International were worth $1,372,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

MDLZ has been the subject of several recent research reports. DZ Bank cut Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a research report on Friday, February 7th. Piper Sandler upped their price objective on Mondelez International from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Barclays decreased their target price on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Dbs Bank lowered shares of Mondelez International from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.50.

Mondelez International Stock Down 0.3 %

MDLZ stock opened at $67.65 on Wednesday. Mondelez International, Inc. has a fifty-two week low of $53.95 and a fifty-two week 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. The stock has a market capitalization of $87.51 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 4.34 and a beta of 0.50. The business’s fifty day moving average price is $62.65 and its two-hundred day moving average price is $64.65.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio (DPR) is currently 54.97%.

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

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.