Wells Fargo & Company MN Sells 41,503 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Wells Fargo & Company MN lessened its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 10,137,241 shares of the company’s stock after selling 41,503 shares during the period. Wells Fargo & Company MN’s holdings in Mondelez International were worth $605,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC grew its position in Mondelez International by 7.4% during the third quarter. Continuum Advisory LLC now owns 2,542 shares of the company’s stock worth $187,000 after buying an additional 175 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Mondelez International by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 10,499 shares of the company’s stock valued at $627,000 after purchasing an additional 181 shares in the last quarter. Traphagen Investment Advisors LLC lifted its position in Mondelez International by 0.8% during the fourth quarter. Traphagen Investment Advisors LLC now owns 23,619 shares of the company’s stock worth $1,411,000 after purchasing an additional 187 shares during the period. Core Alternative Capital grew its stake in Mondelez International by 1.7% during the fourth quarter. Core Alternative Capital now owns 11,448 shares of the company’s stock worth $684,000 after buying an additional 187 shares in the last quarter. Finally, Waldron Private Wealth LLC increased its stake in Mondelez International by 1.0% in the fourth quarter. Waldron Private Wealth LLC now owns 19,496 shares of the company’s stock valued at $1,164,000 after acquiring an additional 191 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MDLZ shares. Jefferies Financial Group lowered Mondelez International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $62.00 in a research note on Tuesday, January 21st. Argus downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Piper Sandler upped their price target on shares of Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price target on shares of Mondelez International from $64.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research 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 assigned a buy rating to the stock. According to MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and an average target price of $70.20.

Mondelez International Price Performance

Shares of MDLZ stock opened at $66.31 on Friday. The business’s fifty day moving average is $63.25 and its 200 day moving average is $64.61. The stock has a market cap of $85.77 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 4.34 and a beta of 0.47. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month 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.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. Research analysts expect that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio (DPR) is 54.97%.

Mondelez International declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are 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.