New Mexico Educational Retirement Board Sells 1,900 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

New Mexico Educational Retirement Board reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 63,726 shares of the company’s stock after selling 1,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Mondelez International were worth $3,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of Mondelez International during the third quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the third quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its holdings in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in Mondelez International in the fourth quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC bought a new stake in Mondelez International in the third quarter valued at approximately $38,000. 78.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDLZ. Deutsche Bank Aktiengesellschaft reduced their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada reduced their target price on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Citigroup reduced their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Redburn Atlantic started coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Finally, Piper Sandler lowered Mondelez International from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $70.00 to $63.00 in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and an average target price of $69.74.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $60.82 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The stock’s 50 day moving average is $58.98 and its 200-day moving average is $66.14. The firm has a market capitalization of $81.33 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 4.04 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly 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%. Sell-side analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Mondelez International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 3.09%. Mondelez International’s dividend payout ratio (DPR) is currently 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.