Summit Financial LLC Buys 2,556 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Summit Financial LLC lifted its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,792 shares of the company’s stock after buying an additional 2,556 shares during the period. Summit Financial LLC’s holdings in Mondelez International were worth $1,372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Continuum Advisory LLC boosted its position in Mondelez International by 7.4% in the third quarter. Continuum Advisory LLC now owns 2,542 shares of the company’s stock valued at $187,000 after buying an additional 175 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Mondelez International by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 10,499 shares of the company’s stock worth $627,000 after acquiring an additional 181 shares in the last quarter. Traphagen Investment Advisors LLC grew its position in Mondelez International by 0.8% during the 4th quarter. Traphagen Investment Advisors LLC now owns 23,619 shares of the company’s stock worth $1,411,000 after acquiring an additional 187 shares during the last quarter. Core Alternative Capital increased its holdings in Mondelez International by 1.7% during the 4th quarter. Core Alternative Capital now owns 11,448 shares of the company’s stock valued at $684,000 after purchasing an additional 187 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its position in Mondelez International by 1.0% in the 4th quarter. Waldron Private Wealth LLC now owns 19,496 shares of the company’s stock valued at $1,164,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 78.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group decreased their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus lowered their price objective on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler raised their price target on shares of Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada dropped 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Mondelez International Trading Down 0.3 %

Shares of NASDAQ MDLZ opened at $67.65 on Wednesday. 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, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. The company’s fifty day moving average is $62.65 and its 200-day moving average is $64.65. The stock has a market cap of $87.51 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 4.34 and a beta of 0.50.

Mondelez International (NASDAQ:MDLZ) last posted 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 net margin of 12.68% and a return on equity of 16.75%. Equities research analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio (DPR) is presently 54.97%.

Mondelez International announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes 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 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.