Mondelez International, Inc. (NASDAQ:MDLZ) Holdings Lifted by Essex Financial Services Inc.

Essex Financial Services Inc. boosted its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,398 shares of the company’s stock after buying an additional 520 shares during the period. Essex Financial Services Inc.’s holdings in Mondelez International were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MDLZ. Truvestments Capital LLC purchased a new stake in shares of Mondelez International in the third quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new position in Mondelez International in the 3rd quarter valued at approximately $27,000. Hager Investment Management Services LLC purchased a new stake in Mondelez International in the 4th quarter worth approximately $27,000. Richardson Financial Services Inc. boosted its stake in shares of Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Mondelez International during the 3rd quarter valued at $38,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler lowered Mondelez International from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $63.00 in a report on Friday, January 31st. Citigroup dropped their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays reduced their price target on Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Redburn Atlantic assumed coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.72.

Mondelez International Price Performance

NASDAQ MDLZ opened at $60.45 on Wednesday. The stock has a 50-day simple moving average of $59.20 and a 200 day simple moving average of $66.30. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The stock has a market capitalization of $80.83 billion, a PE ratio of 17.68, a P/E/G ratio of 4.04 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.42 and a current ratio of 0.68.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 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%. Research analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s payout ratio is currently 54.97%.

Mondelez International declared that its board has initiated a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is 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.