Resona Asset Management Co. Ltd. Acquires New Shares in Mondelez International, Inc. (NASDAQ:MDLZ)

Resona Asset Management Co. Ltd. bought a new position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 424,088 shares of the company’s stock, valued at approximately $25,357,000.

Several other institutional investors also recently modified their holdings of MDLZ. Marshall Investment Management LLC bought a new position in Mondelez International during the fourth quarter worth about $26,000. Hager Investment Management Services LLC bought a new position in shares of Mondelez International during the 4th quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Mondelez International in the 4th quarter valued at approximately $31,000. McClarren Financial Advisors Inc. bought a new stake in Mondelez International during the 4th quarter worth approximately $32,000. Finally, Sierra Ocean LLC acquired a new stake in Mondelez International during the 4th quarter worth approximately $32,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MDLZ shares. 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 report on Thursday, March 27th. Argus cut Mondelez International from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Wells Fargo & Company boosted their price target on Mondelez International from $64.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday. Stifel Nicolaus decreased their price objective on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Citigroup dropped their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Mondelez International Price Performance

NASDAQ:MDLZ opened at $66.31 on Friday. 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, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The stock’s 50 day moving average price is $63.25 and its two-hundred day moving average price is $64.54. The firm has a market capitalization of $85.77 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 4.34 and a beta of 0.47.

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 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%. On average, analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 2.84%. Mondelez International’s dividend payout ratio is currently 54.97%.

Mondelez International declared that its board has approved a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management 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.