Sovereign Financial Group Inc. Lowers Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Sovereign Financial Group Inc. lowered its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,180 shares of the company’s stock after selling 636 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Mondelez International were worth $309,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Axiom Advisory LLC boosted its stake in shares of Mondelez International by 1.6% during the third quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock valued at $643,000 after purchasing an additional 143 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock valued at $78,000 after purchasing an additional 150 shares during the last quarter. Carnegie Investment Counsel raised its holdings in Mondelez International by 1.4% in the third quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock worth $811,000 after purchasing an additional 151 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Mondelez International by 1.3% during the third quarter. SeaCrest Wealth Management LLC now owns 12,130 shares of the company’s stock valued at $894,000 after buying an additional 156 shares during the last quarter. Finally, Quent Capital LLC lifted its position in shares of Mondelez International by 5.5% during the third quarter. Quent Capital LLC now owns 3,047 shares of the company’s stock valued at $225,000 after buying an additional 160 shares during the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Redburn Atlantic initiated coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective for the company. The Goldman Sachs Group reduced their price target on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler raised their price objective on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Mondelez International from a “buy” rating to a “hold” rating and dropped their target price for the stock from $78.00 to $67.00 in a research note on Thursday, December 12th. Finally, Citigroup decreased their price target 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.79.

Mondelez International Price Performance

NASDAQ:MDLZ opened at $56.64 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The company has a 50 day moving average price of $62.11 and a 200-day moving average price of $67.44. Mondelez International, Inc. has a 1-year low of $55.97 and a 1-year high of $77.20. The firm has a market cap of $75.74 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data 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. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current year.

Mondelez International declared that its Board of Directors has initiated a share 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 buy up to 10.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors 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 issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.32%. The ex-dividend date was Tuesday, December 31st. Mondelez International’s payout ratio is currently 66.67%.

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.