Sandy Spring Bank Reduces Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Sandy Spring Bank lowered its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,088 shares of the company’s stock after selling 7,955 shares during the period. Sandy Spring Bank’s holdings in Mondelez International were worth $5,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MDLZ. Raymond James Financial Inc. purchased a new stake in shares of Mondelez International during the fourth quarter worth $256,832,000. Van ECK Associates Corp lifted its position in shares of Mondelez International by 2,560.0% during the fourth quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock worth $203,749,000 after acquiring an additional 3,282,937 shares in the last quarter. Ilex Capital Partners UK LLP purchased a new stake in shares of Mondelez International during the third quarter worth $219,045,000. FMR LLC lifted its position in shares of Mondelez International by 14.2% during the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after acquiring an additional 2,268,639 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Mondelez International during the third quarter worth $159,823,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Down 1.0 %

Shares of NASDAQ:MDLZ opened at $64.00 on Thursday. The stock’s 50-day moving average price is $61.07 and its 200-day moving average price is $65.24. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The stock has a market capitalization of $82.79 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last announced 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 net margin of 12.68% and a return on equity of 16.75%. On average, equities analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.94%. Mondelez International’s payout ratio is presently 54.97%.

Mondelez International announced that its board has initiated a stock buyback program on Wednesday, December 11th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDLZ. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $70.00 to $63.00 in a research report on Friday, January 31st. Mizuho increased their price objective on Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Argus downgraded Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Mondelez International has a consensus rating of “Moderate Buy” and a consensus target price of $69.74.

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.