Nordea Investment Management AB Sells 340,396 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Nordea Investment Management AB cut its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 6.3% during the 4th quarter, HoldingsChannel reports. The fund owned 5,039,711 shares of the company’s stock after selling 340,396 shares during the quarter. Nordea Investment Management AB’s holdings in Mondelez International were worth $300,770,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Truvestments Capital LLC purchased a new position in Mondelez International in the 3rd quarter worth $25,000. Prospera Private Wealth LLC bought a new position in shares of Mondelez International during the third quarter valued at about $27,000. Richardson Financial Services Inc. increased its holdings in shares of Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the period. Highline Wealth Partners LLC purchased a new stake in Mondelez International during the 3rd quarter valued at about $38,000. Finally, Hara Capital LLC purchased a new stake in Mondelez International during the 3rd quarter valued at about $45,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

Shares of MDLZ stock opened at $59.86 on Monday. The business’s fifty day moving average is $63.71 and its 200 day moving average is $67.89. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The stock has a market cap of $80.04 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.80 and a beta of 0.53. Mondelez International, Inc. has a twelve month low of $58.90 and a twelve month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. The firm had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. Research analysts expect that Mondelez International, Inc. will post 3.48 EPS for the current fiscal year.

Mondelez International announced that its board has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Mondelez International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.14%. Mondelez International’s payout ratio is 66.67%.

Analyst Ratings Changes

Several brokerages have weighed in on MDLZ. Wells Fargo & Company lowered their price objective on Mondelez International from $78.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, December 5th. Piper Sandler increased their price target on shares of Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and cut their price target for the stock from $78.00 to $67.00 in a report on Thursday, December 12th. Redburn Atlantic started coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price for the company. Finally, Stifel Nicolaus raised their target price on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and a consensus target price of $79.07.

Mondelez International Company 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.