Westside Investment Management Inc. Lowers Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Westside Investment Management Inc. decreased its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,958 shares of the company’s stock after selling 288 shares during the quarter. Westside Investment Management Inc.’s holdings in Mondelez International were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in Mondelez International during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC bought a new position in shares of Mondelez International during the third quarter worth about $27,000. Richardson Financial Services Inc. grew 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 worth $28,000 after purchasing an additional 200 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in Mondelez International in the third quarter valued at about $38,000. Finally, Hara Capital LLC acquired a new stake in Mondelez International during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler lowered their price target on Mondelez International from $84.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Citigroup dropped their target price on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group decreased their price target on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $61.00 price objective (down previously from $74.00) on shares of Mondelez International in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.81.

Mondelez International Stock Performance

MDLZ opened at $56.31 on Thursday. The business has a 50 day moving average price of $61.25 and a two-hundred day moving average price of $67.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The company has a market capitalization of $75.30 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54. Mondelez International, Inc. has a 1-year low of $55.97 and a 1-year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last announced 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. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts predict that Mondelez International, Inc. will post 3.46 EPS for the current fiscal year.

Mondelez International announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Mondelez International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.34%. Mondelez International’s payout ratio is currently 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.