Parsons Capital Management Inc. RI Decreases Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Parsons Capital Management Inc. RI reduced its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 21.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,075 shares of the company’s stock after selling 14,439 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Mondelez International were worth $3,170,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MDLZ. Truvestments Capital LLC purchased a new stake in Mondelez International in the third quarter valued at about $25,000. Prospera Private Wealth LLC purchased a new stake in Mondelez International in the third quarter valued at about $27,000. Richardson Financial Services Inc. raised its stake in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in Mondelez International in the third quarter valued at about $38,000. Finally, Albion Financial Group UT purchased a new stake in Mondelez International in the fourth quarter valued at about $38,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDLZ has been the topic of a number of research reports. Jefferies Financial Group lowered Mondelez International from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $62.00 in a report on Tuesday, January 21st. The Goldman Sachs Group cut their price objective on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Citigroup cut their price objective on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $61.00 target price (down from $74.00) on shares of Mondelez International in a report on Tuesday, January 7th. Finally, Piper Sandler dropped their target price on Mondelez International from $84.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.06.

Mondelez International Stock Performance

NASDAQ MDLZ opened at $58.69 on Monday. The company has a market cap of $78.48 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.96 and a beta of 0.54. The stock’s 50 day simple moving average is $60.74 and its 200-day simple moving average is $66.95. Mondelez International, Inc. has a 1-year low of $55.97 and a 1-year high of $77.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. As a group, equities research analysts anticipate that Mondelez International, Inc. will post 3.45 EPS for the current fiscal year.

Mondelez International declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Mondelez International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 3.20%. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

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.