Mondelez International, Inc. (NASDAQ:MDLZ) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 24.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,796 shares of the company’s stock after buying an additional 12,190 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Mondelez International were worth $3,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its stake in Mondelez International by 3.2% during the third quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after purchasing an additional 1,851,247 shares during the period. Geode Capital Management LLC increased its stake in Mondelez International by 1.2% during the third quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock worth $2,069,906,000 after purchasing an additional 341,203 shares during the period. FMR LLC increased its stake in Mondelez International by 14.2% during the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after purchasing an additional 2,268,639 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Mondelez International by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock worth $1,268,242,000 after purchasing an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC increased its stake in Mondelez International by 12,057.4% during the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock worth $926,327,000 after purchasing an additional 12,470,573 shares during the period. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDLZ. Citigroup lowered their price objective on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. DZ Bank downgraded Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research report on Friday, February 7th. Stifel Nicolaus lowered their price objective on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $70.00 to $63.00 in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.74.

Mondelez International Stock Performance

Shares of MDLZ opened at $61.18 on Wednesday. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $58.95 and a 200 day moving average price of $66.00. The company has a quick ratio of 0.42, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. Research analysts predict that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Dividend Announcement

The company also recently disclosed 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 3.07%. The ex-dividend date is Monday, March 31st. Mondelez International’s payout ratio is currently 54.97%.

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

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.