Kentucky Retirement Systems Insurance Trust Fund Increases Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Kentucky Retirement Systems Insurance Trust Fund raised its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 57.0% during the fourth quarter, HoldingsChannel reports. The firm owned 62,107 shares of the company’s stock after purchasing an additional 22,557 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Mondelez International were worth $3,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Creative Planning increased its position in shares of Mondelez International by 4.8% during the 3rd quarter. Creative Planning now owns 343,226 shares of the company’s stock worth $25,285,000 after purchasing an additional 15,845 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Mondelez International by 2.1% in the third quarter. Commonwealth Equity Services LLC now owns 453,653 shares of the company’s stock valued at $33,421,000 after purchasing an additional 9,353 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Mondelez International by 4.1% in the third quarter. OLD National Bancorp IN now owns 11,135 shares of the company’s stock valued at $820,000 after acquiring an additional 436 shares during the period. Vest Financial LLC boosted its holdings in shares of Mondelez International by 126.7% in the third quarter. Vest Financial LLC now owns 8,809 shares of the company’s stock valued at $649,000 after acquiring an additional 4,924 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Mondelez International by 54.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 738,358 shares of the company’s stock worth $54,395,000 after purchasing an additional 260,036 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ opened at $60.82 on Tuesday. The business’s 50-day moving average price is $58.98 and its two-hundred day moving average price is $66.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.42. Mondelez International, Inc. has a one year low of $53.95 and a one year high of $76.06. The company has a market capitalization of $81.33 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (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%. 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 initiated a share 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 3.09%. Mondelez International’s dividend payout ratio (DPR) is 54.97%.

Wall Street Analysts Forecast Growth

MDLZ has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. UBS Group decreased their price objective on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Redburn Atlantic assumed coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Wednesday, January 22nd. Finally, DZ Bank downgraded Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, 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.