Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,286 shares of the company’s stock after selling 18,413 shares during the period. Corebridge Financial Inc.’s holdings in Mondelez International were worth $23,551,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. United Bank grew its stake in Mondelez International by 12.7% during the 3rd quarter. United Bank now owns 22,649 shares of the company’s stock valued at $1,669,000 after purchasing an additional 2,549 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Mondelez International during the 3rd quarter valued at approximately $615,000. Larson Financial Group LLC grew its position in shares of Mondelez International by 82.7% during the third quarter. Larson Financial Group LLC now owns 2,811 shares of the company’s stock worth $207,000 after buying an additional 1,272 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Mondelez International by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company’s stock worth $18,349,000 after buying an additional 25,833 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC raised its holdings in Mondelez International by 11.8% in the third quarter. Douglass Winthrop Advisors LLC now owns 12,280 shares of the company’s stock valued at $905,000 after acquiring an additional 1,300 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ opened at $64.95 on Tuesday. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The company has a market cap of $84.01 billion, a PE ratio of 18.99, a P/E/G ratio of 4.34 and a beta of 0.50. The stock has a 50 day simple moving average of $61.52 and a 200-day simple moving average of $64.99. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58.

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 analysts’ consensus estimates 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 research analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

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

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid 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 2.89%. Mondelez International’s payout ratio is 54.97%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MDLZ shares. Jefferies Financial Group lowered shares of Mondelez International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $62.00 in a report on Tuesday, January 21st. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $70.00 to $63.00 in a research note on Friday, January 31st. Dbs Bank cut Mondelez International from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 7th. Wells Fargo & Company decreased their target price on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.70.

Mondelez International 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.