Cullinan Associates Inc. Sells 2,519 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Cullinan Associates Inc. decreased its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 45,734 shares of the company’s stock after selling 2,519 shares during the period. Cullinan Associates Inc.’s holdings in Mondelez International were worth $2,732,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Czech National Bank boosted its position in shares of Mondelez International by 6.5% during the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after purchasing an additional 17,815 shares in the last quarter. Legacy Private Trust Co. lifted its position in Mondelez International by 33.2% during the fourth quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after buying an additional 957 shares during the period. Kennedy Investment Group bought a new stake in shares of Mondelez International during the 4th quarter valued at $313,000. Benjamin Edwards Inc. grew its position in shares of Mondelez International by 1,904.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock worth $31,369,000 after buying an additional 404,567 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in shares of Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after buying an additional 14,278 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $57.41 on Tuesday. The firm has a market cap of $76.77 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 3.12 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The firm has a fifty day moving average price of $60.09 and a 200 day moving average price of $66.67. Mondelez International, Inc. has a fifty-two week low of $55.97 and a fifty-two week high of $76.69.

Mondelez International announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Mondelez International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.27%. Mondelez International’s payout ratio is currently 66.67%.

Analyst Ratings Changes

Several research firms recently commented on MDLZ. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price objective on shares of Mondelez International in a research note on Thursday, January 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $61.00 price target (down from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Bank of America raised their price objective on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus cut their target price on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Citigroup dropped their price target on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.76.

Mondelez International 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.