Penobscot Investment Management Company Inc. Cuts Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Penobscot Investment Management Company Inc. lessened its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,621 shares of the company’s stock after selling 4,384 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Mondelez International were worth $2,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Mondelez International during the 3rd quarter valued at about $25,000. Marshall Investment Management LLC purchased a new stake in Mondelez International in the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new position in Mondelez International during the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Mondelez International during the fourth quarter worth approximately $31,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Mondelez International during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Trading Down 0.4 %

NASDAQ MDLZ opened at $64.69 on Wednesday. The firm has a market capitalization of $83.68 billion, a PE ratio of 18.92, a P/E/G ratio of 4.34 and a beta of 0.50. The stock’s 50 day moving average is $61.67 and its 200 day moving average is $64.91. Mondelez International, Inc. has a twelve month low of $53.95 and a twelve month high of $76.06. 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 announced its 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%. Research analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

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

Mondelez International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio is 54.97%.

Analyst Ratings Changes

MDLZ has been the topic of several recent research reports. Jefferies Financial Group lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $62.00 in a report on Tuesday, January 21st. DZ Bank cut Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research note on Friday, February 7th. Citigroup lowered their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their price target on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.70.

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.