OVERSEA CHINESE BANKING Corp Ltd Purchases 1,848 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 27.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,690 shares of the company’s stock after purchasing an additional 1,848 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Mondelez International were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDLZ. Raymond James Financial Inc. bought a new stake in shares of Mondelez International during the fourth quarter worth about $256,832,000. Van ECK Associates Corp grew its holdings in shares of Mondelez International by 2,560.0% during the fourth quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock worth $203,749,000 after purchasing an additional 3,282,937 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Mondelez International during the third quarter worth about $219,045,000. FMR LLC grew its holdings in shares of 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 last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Mondelez International during the third quarter worth about $159,823,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

Shares of MDLZ opened at $63.95 on Friday. Mondelez International, Inc. has a 12-month low of $53.95 and a 12-month high of $76.06. The business’s fifty day moving average is $61.18 and its 200 day moving average is $65.23. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock has a market cap of $82.72 billion, a P/E ratio of 18.70, a P/E/G ratio of 4.34 and a beta of 0.50.

Mondelez International (NASDAQ:MDLZ) last issued 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 return on equity of 16.75% and a net margin of 12.68%. Sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Mondelez International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio is currently 54.97%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada cut their price objective on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Piper Sandler lowered Mondelez International from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $63.00 in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Citigroup cut their price objective on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus cut their price objective on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.74.

Mondelez International Company 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.