Canandaigua National Bank & Trust Co. Grows Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Canandaigua National Bank & Trust Co. grew its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 50.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,565 shares of the company’s stock after buying an additional 10,920 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Mondelez International were worth $1,945,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MDLZ. Truvestments Capital LLC bought a new stake in Mondelez International during the third quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the 3rd quarter worth approximately $27,000. Richardson Financial Services Inc. boosted its stake in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Mondelez International during the third quarter valued at approximately $38,000. Finally, Hara Capital LLC purchased a new position in shares of Mondelez International during the third quarter worth approximately $45,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Stock Down 2.7 %

Shares of NASDAQ:MDLZ traded down $1.64 during trading on Monday, hitting $58.22. The stock had a trading volume of 9,332,756 shares, compared to its average volume of 6,609,896. The company has a market capitalization of $77.85 billion, a PE ratio of 20.65, a PEG ratio of 2.80 and a beta of 0.54. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $63.71 and its 200 day moving average is $67.89. Mondelez International, Inc. has a 12 month low of $58.12 and a 12 month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. Analysts anticipate that Mondelez International, Inc. will post 3.48 EPS for the current fiscal year.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

Mondelez International announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America increased their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price objective on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Redburn Atlantic initiated coverage on Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price for the company. Stifel Nicolaus lifted their price target on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI increased their price objective on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.07.

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.