Jennison Associates LLC Cuts Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Jennison Associates LLC cut its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 48.6% in the 4th quarter, Holdings Channel reports. The fund owned 603,992 shares of the company’s stock after selling 571,247 shares during the quarter. Jennison Associates LLC’s holdings in Mondelez International were worth $43,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors boosted its position in Mondelez International by 4.1% during the third quarter. Arkadios Wealth Advisors now owns 4,421 shares of the company’s stock valued at $307,000 after buying an additional 176 shares during the period. Flagship Harbor Advisors LLC boosted its position in Mondelez International by 7.8% during the third quarter. Flagship Harbor Advisors LLC now owns 6,074 shares of the company’s stock valued at $422,000 after buying an additional 437 shares during the period. Impact Partnership Wealth LLC boosted its position in Mondelez International by 1,865.6% during the third quarter. Impact Partnership Wealth LLC now owns 629 shares of the company’s stock valued at $44,000 after buying an additional 597 shares during the period. Founders Financial Securities LLC boosted its position in Mondelez International by 4.4% during the third quarter. Founders Financial Securities LLC now owns 17,565 shares of the company’s stock valued at $1,219,000 after buying an additional 746 shares during the period. Finally, Carolina Wealth Advisors LLC purchased a new stake in Mondelez International during the third quarter valued at about $72,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MDLZ shares. Barclays cut their price target on shares of Mondelez International from $84.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Citigroup cut their price target on shares of Mondelez International from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. StockNews.com downgraded shares of Mondelez International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mondelez International from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Stifel Nicolaus upped their price objective on shares of Mondelez International from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.89.

Mondelez International Price Performance

MDLZ stock opened at $70.75 on Wednesday. Mondelez International, Inc. has a 1 year low of $60.75 and a 1 year high of $78.59. The company has a market cap of $95.26 billion, a P/E ratio of 19.49, a PEG ratio of 2.41 and a beta of 0.56. The firm has a 50-day moving average of $70.50 and a 200 day moving average of $70.56. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.62 and a quick ratio of 0.43.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Mondelez International had a net margin of 13.77% and a return on equity of 15.91%. The company had revenue of $9.31 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. Mondelez International’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Mondelez International, Inc. will post 3.52 EPS for the current year.

Mondelez International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, March 27th. Mondelez International’s payout ratio is currently 46.83%.

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.