Mondelez International, Inc. (NASDAQ:MDLZ) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 4.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 394,286 shares of the company’s stock after selling 18,413 shares during the quarter. Corebridge Financial Inc.’s holdings in Mondelez International were worth $23,551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hardy Reed LLC lifted its position in shares of Mondelez International by 1.4% during the 3rd quarter. Hardy Reed LLC now owns 11,511 shares of the company’s stock valued at $848,000 after acquiring an additional 161 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Mondelez International by 7.4% during the third quarter. Continuum Advisory LLC now owns 2,542 shares of the company’s stock valued at $187,000 after purchasing an additional 175 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Mondelez International by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 10,499 shares of the company’s stock valued at $627,000 after purchasing an additional 181 shares during the period. Traphagen Investment Advisors LLC increased its stake in Mondelez International by 0.8% in the 4th quarter. Traphagen Investment Advisors LLC now owns 23,619 shares of the company’s stock worth $1,411,000 after purchasing an additional 187 shares in the last quarter. Finally, Core Alternative Capital raised its holdings in Mondelez International by 1.7% during the 4th quarter. Core Alternative Capital now owns 11,448 shares of the company’s stock worth $684,000 after buying an additional 187 shares during the period. 78.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MDLZ has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Argus downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada decreased their target price on Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Mizuho upped their price target on Mondelez International from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.70.

Mondelez International Stock Performance

MDLZ stock opened at $64.95 on Tuesday. The firm has a 50 day moving average of $61.52 and a two-hundred day moving average of $64.99. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The company has a market capitalization of $84.01 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 4.34 and a beta of 0.50. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data 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%. As a group, equities analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The business 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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International’s dividend payout ratio is 54.97%.

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

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.