Penobscot Investment Management Company Inc. Cuts Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Penobscot Investment Management Company Inc. cut its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 8.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 48,621 shares of the company’s stock after selling 4,384 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Mondelez International were worth $2,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDLZ. Vanguard Group Inc. raised its holdings in Mondelez International by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 132,437,250 shares of the company’s stock worth $7,910,477,000 after acquiring an additional 931,776 shares during the last quarter. State Street Corp increased its holdings in shares of Mondelez International by 3.2% in the 3rd quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after purchasing an additional 1,851,247 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Mondelez International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock worth $2,069,906,000 after purchasing an additional 341,203 shares in the last quarter. FMR LLC raised its stake in shares of Mondelez International by 14.2% in 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, Bank of New York Mellon Corp lifted its holdings in shares of Mondelez International by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 10,354,236 shares of the company’s stock valued at $618,458,000 after purchasing an additional 326,177 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

Wall Street Analyst Weigh In

MDLZ has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. UBS Group lowered their price objective on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. DZ Bank downgraded shares of Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a research report on Friday, February 7th. Jefferies Financial Group cut Mondelez International from a “buy” rating to a “hold” rating and lowered their price target for the company from $75.00 to $62.00 in a report on Tuesday, January 21st. Finally, Dbs Bank cut Mondelez International from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.70.

Mondelez International Trading Down 0.4 %

Mondelez International stock opened at $64.69 on Wednesday. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The firm’s 50 day moving average price is $61.67 and its 200-day moving average price is $64.91. 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 cap of $83.68 billion, a P/E ratio of 18.92, a PEG ratio of 4.34 and a beta of 0.50.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results 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%. On average, equities analysts predict that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International declared that its board has approved a stock buyback plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Mondelez International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.47 dividend. 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 (DPR) is presently 54.97%.

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.