Balentine LLC Sells 2,283 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Balentine LLC cut its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 31.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,050 shares of the company’s stock after selling 2,283 shares during the period. Balentine LLC’s holdings in Mondelez International were worth $302,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Mondelez International in the third quarter valued at $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the 3rd quarter valued at $27,000. Richardson Financial Services Inc. raised its stake in shares of Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Mondelez International during the 4th quarter worth about $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Mondelez International during the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $58.53 on Tuesday. The stock has a 50 day simple moving average of $59.34 and a 200 day simple moving average of $66.35. The stock has a market cap of $78.27 billion, a P/E ratio of 17.11, a PEG ratio of 4.04 and a beta of 0.54. Mondelez International, Inc. has a 1-year low of $53.95 and a 1-year high of $76.06. The company has a current ratio of 0.68, a quick ratio of 0.42 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share 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%. Research analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

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

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.21%. Mondelez International’s payout ratio is presently 54.97%.

Wall Street Analyst Weigh In

MDLZ has been the subject of several recent research reports. Barclays dropped their price target on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. DZ Bank cut Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a research report on Friday. Royal Bank of Canada cut their price objective on Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Citigroup lowered their target price on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.72.

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.