Cullen Investment Group LTD. Decreases Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Cullen Investment Group LTD. trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 2.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,939 shares of the company’s stock after selling 385 shares during the period. Cullen Investment Group LTD.’s holdings in Mondelez International were worth $1,072,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MDLZ. Truvestments Capital LLC purchased a new position in shares of Mondelez International during the third quarter worth about $25,000. Prospera Private Wealth LLC purchased a new position in shares of Mondelez International in the 3rd quarter valued at about $27,000. Richardson Financial Services Inc. boosted its holdings in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in Mondelez International in the third quarter valued at about $38,000. Finally, Hara Capital LLC acquired a new stake in shares of Mondelez International in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Trading Down 0.1 %

NASDAQ MDLZ opened at $56.17 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. Mondelez International, Inc. has a 12 month low of $55.97 and a 12 month high of $77.20. The company’s fifty day moving average price is $62.34 and its two-hundred day moving average price is $67.50. The company has a market capitalization of $75.11 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.

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

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

Mondelez International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler upped their target price on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America upped their target price on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Evercore ISI boosted their price target on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Wells Fargo & Company reissued an “equal weight” rating and issued a $61.00 target price (down previously from $74.00) on shares of Mondelez International in a research note on Tuesday, January 7th. Finally, Redburn Atlantic initiated coverage on Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Mondelez International presently has an average 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.