Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 28.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,354 shares of the company’s stock after selling 50,140 shares during the period. Pinnacle Financial Partners Inc’s holdings in Mondelez International were worth $7,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDLZ. Mizuho Securities USA LLC grew its holdings in shares of Mondelez International by 12,057.4% during the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock worth $926,327,000 after buying an additional 12,470,573 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Mondelez International by 2,560.0% during the fourth quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock worth $203,749,000 after buying an additional 3,282,937 shares in the last quarter. Ilex Capital Partners UK LLP purchased a new stake in shares of Mondelez International during the third quarter worth about $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 buying an additional 2,268,639 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Mondelez International during the third quarter worth about $159,823,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MDLZ has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus lowered their price target on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. The Goldman Sachs Group dropped their price target on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Argus lowered shares of Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and an average price target of $69.74.

Mondelez International Price Performance

Mondelez International stock opened at $64.70 on Friday. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $76.06. The firm has a fifty day moving average of $58.98 and a 200-day moving average of $65.89. The firm has a market capitalization of $83.69 billion, a P/E ratio of 18.92, a PEG ratio of 4.34 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. As a group, analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.91%. Mondelez International’s dividend payout ratio (DPR) is presently 54.97%.

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

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.