Cullen Capital Management LLC Sells 544,407 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Cullen Capital Management LLC trimmed its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 90.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,898 shares of the company’s stock after selling 544,407 shares during the quarter. Cullen Capital Management LLC’s holdings in Mondelez International were worth $3,518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Investment Management LLC purchased a new position in Mondelez International in the 4th quarter worth about $26,000. Hager Investment Management Services LLC purchased a new position in shares of Mondelez International during the fourth quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Mondelez International during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in shares of Mondelez International during the fourth quarter valued at approximately $32,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Mondelez International in the fourth quarter valued at approximately $32,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Price Performance

MDLZ stock opened at $66.31 on Friday. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week 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. The stock has a market cap of $85.77 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 4.34 and a beta of 0.47. The business has a fifty day moving average of $63.25 and a two-hundred day moving average of $64.61.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data 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 16.75% and a net margin of 12.68%. As a group, research analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International declared that its board has approved a stock repurchase program on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Mondelez International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors 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 (DPR) is presently 54.97%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDLZ. Barclays reduced their price target on Mondelez International from $69.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley assumed coverage on shares of Mondelez International in a research report on Monday, March 24th. They set an “overweight” rating and a $69.00 price target on the stock. Royal Bank of Canada decreased their price objective on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. UBS Group dropped their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus reduced their price target on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. 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. According to MarketBeat, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Mondelez International 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.