Hartford Investment Management Co. Reduces Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Hartford Investment Management Co. trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,020 shares of the company’s stock after selling 1,943 shares during the quarter. Hartford Investment Management Co.’s holdings in Mondelez International were worth $6,190,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Greenleaf Trust grew its holdings in shares of Mondelez International by 0.8% during the third quarter. Greenleaf Trust now owns 313,849 shares of the company’s stock valued at $23,121,000 after buying an additional 2,377 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Mondelez International by 901.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 348,403 shares of the company’s stock worth $25,667,000 after acquiring an additional 313,601 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new position in Mondelez International during the third quarter valued at $250,000. Community Trust & Investment Co. grew its stake in shares of Mondelez International by 3.7% during the 3rd quarter. Community Trust & Investment Co. now owns 156,262 shares of the company’s stock valued at $11,512,000 after acquiring an additional 5,558 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Mondelez International by 9.8% in the third quarter. Private Advisor Group LLC now owns 62,687 shares of the company’s stock worth $4,618,000 after purchasing an additional 5,585 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MDLZ has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Citigroup raised their price target on Mondelez International from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Mondelez International from $78.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Stifel Nicolaus dropped their price objective on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Finally, DA Davidson cut their price objective on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Mondelez International has a consensus rating of “Moderate Buy” and a consensus price target of $78.94.

Mondelez International Price Performance

NASDAQ MDLZ traded down $0.34 on Wednesday, hitting $71.01. The company had a trading volume of 363,571 shares, compared to its average volume of 6,749,774. The company’s fifty day moving average price is $72.57 and its 200-day moving average price is $69.66. Mondelez International, Inc. has a 12-month low of $64.16 and a 12-month high of $77.20. The company has a market capitalization of $95.25 billion, a PE ratio of 22.65, a PEG ratio of 2.87 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.50.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The firm had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. Mondelez International’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. As a group, analysts predict that Mondelez International, Inc. will post 3.5 earnings per share for the current year.

Mondelez International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a $0.47 dividend. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.65%. Mondelez International’s dividend payout ratio is presently 59.68%.

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.