Procyon Advisors LLC Lowers Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Procyon Advisors LLC decreased its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 9.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,130 shares of the company’s stock after selling 2,873 shares during the period. Procyon Advisors LLC’s holdings in Mondelez International were worth $1,620,000 at the end of the most recent reporting period.

Other institutional 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 third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in Mondelez International during the third quarter worth $27,000. Richardson Financial Services Inc. boosted its position in Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of Mondelez International in the 3rd quarter valued at $38,000. Finally, Hara Capital LLC bought a new position in shares of Mondelez International in the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America raised their price objective on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group lowered their price target on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $78.00 to $67.00 in a research note on Thursday, December 12th. Wells Fargo & Company restated an “equal weight” rating and issued a $61.00 target price (down from $74.00) on shares of Mondelez International in a research note on Tuesday, January 7th. Finally, Citigroup reduced their price target on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.93.

Mondelez International Stock Performance

Shares of MDLZ opened at $57.86 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The stock has a 50-day moving average of $61.76 and a two-hundred day moving average of $67.30. The stock has a market cap of $77.37 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.99 and a beta of 0.54. Mondelez International, Inc. has a one year low of $55.97 and a one year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Mondelez International, Inc. will post 3.48 EPS for the current year.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Tuesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is currently 66.67%.

Mondelez International declared that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is 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.