M&T Bank Corp Sells 112,696 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

M&T Bank Corp lessened its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 25.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,691 shares of the company’s stock after selling 112,696 shares during the quarter. M&T Bank Corp’s holdings in Mondelez International were worth $23,699,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Unigestion Holding SA lifted its position in Mondelez International by 2,625.2% during the 3rd quarter. Unigestion Holding SA now owns 102,112 shares of the company’s stock worth $7,523,000 after buying an additional 98,365 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Mondelez International by 14.1% during the third quarter. TD Private Client Wealth LLC now owns 16,585 shares of the company’s stock worth $1,222,000 after acquiring an additional 2,051 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Mondelez International by 12.4% during the third quarter. Coldstream Capital Management Inc. now owns 26,188 shares of the company’s stock valued at $1,917,000 after purchasing an additional 2,885 shares during the last quarter. Geode Capital Management LLC grew its stake in Mondelez International by 1.2% in the third quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after purchasing an additional 341,203 shares in the last quarter. Finally, Frisch Financial Group Inc. increased its position in shares of Mondelez International by 16.0% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,678 shares of the company’s stock worth $273,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MDLZ shares. Redburn Atlantic assumed coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup dropped their target price on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut Mondelez International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $78.00 to $67.00 in a report on Thursday, December 12th. Finally, Evercore ISI upped their price objective on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.07.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $59.39 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $65.93 and a 200 day simple moving average of $68.38. Mondelez International, Inc. has a 1-year low of $59.10 and a 1-year high of $77.20. The stock has a market cap of $79.42 billion, a P/E ratio of 21.06, a PEG ratio of 2.85 and a beta of 0.53.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. Mondelez International’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.17%. Mondelez International’s payout ratio is presently 66.67%.

Mondelez International announced that its Board of Directors 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 purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management 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.