Confluence Wealth Services Inc. Sells 349 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Confluence Wealth Services Inc. decreased its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,244 shares of the company’s stock after selling 349 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Mondelez International were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDLZ. Truvestments Capital LLC purchased a new stake in Mondelez International during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC purchased a new position in shares of Mondelez International during the 3rd quarter worth about $27,000. Richardson Financial Services Inc. raised its position in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Hager Investment Management Services LLC bought a new stake in Mondelez International in the fourth quarter worth about $27,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Mondelez International during the third quarter valued at approximately $38,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Trading Up 2.3 %

NASDAQ MDLZ opened at $57.43 on Thursday. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The company has a fifty day simple moving average of $59.76 and a two-hundred day simple moving average of $66.53. 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 market cap of $76.79 billion, a P/E ratio of 20.37, a P/E/G ratio of 3.12 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. On average, analysts forecast that Mondelez International, Inc. will post 3.44 earnings per share for the current year.

Mondelez International declared that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.27%. The ex-dividend date was Tuesday, December 31st. Mondelez International’s payout ratio is 66.67%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDLZ. Bank of America increased their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler downgraded shares of Mondelez International from an “overweight” rating to a “neutral” rating and cut their target price for the company from $70.00 to $63.00 in a research report on Friday, January 31st. Jefferies Financial Group downgraded shares of Mondelez International from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $62.00 in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group reduced their price target on Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Mondelez International has a consensus rating of “Moderate Buy” and an average target price of $72.35.

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.