ICICI Prudential Asset Management Co Ltd Raises Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 430.0% in the fourth quarter, HoldingsChannel reports. The firm owned 92,413 shares of the company’s stock after acquiring an additional 74,975 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Mondelez International were worth $5,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Financial Perspectives Inc increased its stake in shares of Mondelez International by 53.9% during the 4th quarter. Financial Perspectives Inc now owns 768 shares of the company’s stock worth $46,000 after purchasing an additional 269 shares in the last quarter. Atlas Legacy Advisors LLC purchased a new position in shares of Mondelez International during the 4th quarter worth approximately $256,000. Bank of Jackson Hole Trust purchased a new position in shares of Mondelez International during the 4th quarter worth approximately $261,000. Mcdonald Partners LLC increased its stake in shares of Mondelez International by 39.5% during the 4th quarter. Mcdonald Partners LLC now owns 16,288 shares of the company’s stock worth $973,000 after purchasing an additional 4,608 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Mondelez International by 57.0% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 62,107 shares of the company’s stock worth $3,710,000 after purchasing an additional 22,557 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MDLZ. Barclays lowered their target price on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Jefferies Financial Group cut shares of Mondelez International from a “buy” rating to a “hold” rating and lowered their target price for the stock from $75.00 to $62.00 in a research note on Tuesday, January 21st. Redburn Atlantic began 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. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.74.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $61.18 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $79.14 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 4.24 and a beta of 0.54. The firm’s fifty day simple moving average is $58.95 and its 200 day simple moving average is $66.00. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06.

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

Mondelez International announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $9.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Mondelez International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio (DPR) is 54.97%.

Mondelez International Company Profile

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.