Congress Wealth Management LLC DE Sells 25,871 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Congress Wealth Management LLC DE trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,090 shares of the company’s stock after selling 25,871 shares during the period. Congress Wealth Management LLC DE’s holdings in Mondelez International were worth $8,248,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Mondelez International in the fourth quarter valued at approximately $256,832,000. Van ECK Associates Corp raised its position in Mondelez International by 2,560.0% in the 4th quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock valued at $203,749,000 after purchasing an additional 3,282,937 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in Mondelez International in the third quarter worth $219,045,000. FMR LLC grew its holdings in shares of Mondelez International by 14.2% during the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after purchasing an additional 2,268,639 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Mondelez International in the third quarter valued at $159,823,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Down 0.4 %

Shares of NASDAQ MDLZ opened at $64.69 on Wednesday. The firm has a 50 day moving average price of $61.67 and a 200 day moving average price of $64.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $83.68 billion, a P/E ratio of 18.92, a P/E/G ratio of 4.34 and a beta of 0.50. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $76.06.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data 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 net margin of 12.68% and a return on equity of 16.75%. Analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 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 2.91%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International’s dividend payout ratio is currently 54.97%.

Mondelez International announced that its board has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Argus downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada reduced their target price on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Piper Sandler lowered shares of Mondelez International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $63.00 in a report on Friday, January 31st. Stifel Nicolaus reduced their price objective on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.70.

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.