NewEdge Wealth LLC Trims Position in Mondelez International, Inc. (NASDAQ:MDLZ)

NewEdge Wealth LLC cut its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,916 shares of the company’s stock after selling 9,349 shares during the quarter. NewEdge Wealth LLC’s holdings in Mondelez International were worth $4,116,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in Mondelez International during the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Mondelez International during the 3rd quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of Mondelez International during the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new position in shares of Mondelez International during the 4th quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Mondelez International during the 3rd quarter valued at approximately $38,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Trading Up 0.8 %

Shares of MDLZ opened at $63.98 on Friday. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $76.06. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average is $59.31 and its two-hundred day moving average is $65.78. The stock has a market cap of $82.76 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its 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%. Research analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.94%. Mondelez International’s payout ratio is 54.97%.

Mondelez International declared that its Board of Directors has authorized a stock repurchase plan 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 plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MDLZ has been the subject of several recent research reports. Citigroup cut their target price on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company cut 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 report on Wednesday, February 5th. Stifel Nicolaus cut their target price on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. Argus lowered shares of Mondelez International from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Mizuho boosted their price target on shares of Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.74.

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.