DnB Asset Management AS Raises Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

DnB Asset Management AS grew its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,679 shares of the company’s stock after buying an additional 23,040 shares during the period. DnB Asset Management AS’s holdings in Mondelez International were worth $17,840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Mondelez International by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 132,437,250 shares of the company’s stock valued at $7,910,477,000 after purchasing an additional 931,776 shares during the period. State Street Corp raised its holdings in Mondelez International by 3.2% in the 3rd quarter. State Street Corp now owns 60,151,987 shares of the company’s stock valued at $4,459,239,000 after buying an additional 1,851,247 shares during the period. Geode Capital Management LLC lifted its position in Mondelez International by 1.2% in the third quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after buying an additional 341,203 shares during the last quarter. Norges Bank purchased a new position in Mondelez International during the fourth quarter worth about $1,118,755,000. Finally, Bank of New York Mellon Corp increased its position in shares of Mondelez International by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 10,354,236 shares of the company’s stock valued at $618,458,000 after acquiring an additional 326,177 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Trading Up 0.3 %

NASDAQ:MDLZ opened at $67.72 on Friday. The company has a market capitalization of $87.60 billion, a PE ratio of 19.80, a P/E/G ratio of 4.34 and a beta of 0.50. Mondelez International, Inc. has a 52-week low of $53.95 and a 52-week high of $76.06. The stock’s 50 day moving average price is $62.25 and its 200 day moving average price is $64.88. 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%. On average, research analysts anticipate that Mondelez International, Inc. will post 2.9 EPS for the current year.

Mondelez International declared that its board has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Mondelez International Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio is presently 54.97%.

Analyst Upgrades and Downgrades

MDLZ has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Morgan Stanley assumed coverage on Mondelez International in a research note on Monday, March 24th. They issued an “overweight” rating and a $69.00 price objective for the company. Piper Sandler raised their target price on Mondelez International from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company cut their price target on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.50.

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.