Hartford Investment Management Co. Sells 1,416 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Hartford Investment Management Co. reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,604 shares of the company’s stock after selling 1,416 shares during the quarter. Hartford Investment Management Co.’s holdings in Mondelez International were worth $4,934,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mizuho Securities USA LLC raised its holdings 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 valued at $926,327,000 after acquiring an additional 12,470,573 shares during the period. Ilex Capital Partners UK LLP bought a new stake in Mondelez International during the third quarter valued at about $219,045,000. FMR LLC raised its holdings in Mondelez International by 14.2% during the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock valued at $1,344,894,000 after acquiring an additional 2,268,639 shares during the period. Holocene Advisors LP bought a new stake in Mondelez International during the third quarter valued at about $159,823,000. Finally, National Bank of Canada FI raised its holdings in Mondelez International by 173.7% during the third quarter. National Bank of Canada FI now owns 3,049,440 shares of the company’s stock valued at $224,652,000 after acquiring an additional 1,935,356 shares during the period. 78.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Jefferies Financial Group cut Mondelez International from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $62.00 in a report on Tuesday, January 21st. Royal Bank of Canada decreased their price target on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Redburn Atlantic began coverage on Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price target on the stock. Piper Sandler lowered Mondelez International from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $63.00 in a research report on Friday, January 31st. Finally, Wells Fargo & Company cut 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.72.

Mondelez International Trading Up 3.3 %

MDLZ opened at $60.45 on Wednesday. The firm has a market cap of $80.83 billion, a P/E ratio of 17.68, a P/E/G ratio of 4.04 and a beta of 0.54. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06. The company has a current ratio of 0.68, a quick ratio of 0.42 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $59.20 and a 200 day moving average of $66.30.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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, research analysts forecast that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Mondelez International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. Mondelez International’s dividend payout ratio (DPR) is presently 54.97%.

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.