Atlantic Union Bankshares Corp Sells 6,817 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Atlantic Union Bankshares Corp trimmed its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,173 shares of the company’s stock after selling 6,817 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Mondelez International were worth $3,654,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in Mondelez International in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new position in Mondelez International in the third quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in Mondelez International in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in Mondelez International in the fourth quarter valued at approximately $27,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Mondelez International in the fourth quarter valued at approximately $31,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

Shares of MDLZ opened at $67.74 on Friday. The business has a 50-day simple moving average of $60.06 and a two-hundred day simple moving average of $65.60. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The stock has a market cap of $87.62 billion, a PE ratio of 19.81, a PEG ratio of 4.34 and a beta of 0.50. 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 released its quarterly earnings results 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%. Analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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 given a $0.47 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.78%. Mondelez International’s dividend payout ratio (DPR) is presently 54.97%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MDLZ. The Goldman Sachs Group decreased their price target on Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reduced their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group downgraded Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $62.00 in a research note on Tuesday, January 21st. Citigroup reduced their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group reduced their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.74.

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.