Morris Financial Concepts Inc. Reduces Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Morris Financial Concepts Inc. lowered its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 7.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,702 shares of the company’s stock after selling 445 shares during the period. Morris Financial Concepts Inc.’s holdings in Mondelez International were worth $341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Raab & Moskowitz Asset Management LLC raised its position in shares of Mondelez International by 6.1% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 28,491 shares of the company’s stock worth $1,702,000 after acquiring an additional 1,629 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Mondelez International in the 4th quarter worth approximately $32,000. Naples Global Advisors LLC raised its position in shares of Mondelez International by 9.9% in the 4th quarter. Naples Global Advisors LLC now owns 3,862 shares of the company’s stock worth $232,000 after acquiring an additional 348 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Mondelez International by 2,560.0% in the 4th 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. Finally, Retirement Guys Formula LLC increased its position in Mondelez International by 10.1% during the 4th quarter. Retirement Guys Formula LLC now owns 11,565 shares of the company’s stock valued at $691,000 after buying an additional 1,059 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Price Performance

NASDAQ:MDLZ opened at $60.60 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $59.11 and its two-hundred day simple moving average is $66.26. The stock has a market cap of $81.03 billion, a PE ratio of 17.72, a P/E/G ratio of 4.04 and a beta of 0.54. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 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%. As a group, analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

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

Mondelez International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. Mondelez International’s dividend payout ratio (DPR) is 54.97%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDLZ. UBS Group reduced their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Redburn Atlantic began coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price for the company. Piper Sandler lowered Mondelez International from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $63.00 in a report on Friday, January 31st. Stifel Nicolaus reduced their target price on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, DZ Bank lowered Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Mondelez International presently has a consensus rating of “Moderate Buy” and an average target price of $69.72.

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.