ICICI Prudential Asset Management Co Ltd Increases Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

ICICI Prudential Asset Management Co Ltd grew its position in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 430.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,413 shares of the company's stock after acquiring an additional 74,975 shares during the quarter. ICICI Prudential Asset Management Co Ltd's holdings in Mondelez International were worth $5,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Financial Perspectives Inc increased its stake in Mondelez International by 53.9% in the 4th quarter. Financial Perspectives Inc now owns 768 shares of the company's stock worth $46,000 after acquiring an additional 269 shares during the last quarter. Atlas Legacy Advisors LLC bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $256,000. Bank of Jackson Hole Trust purchased a new stake in Mondelez International during the 4th quarter valued at $261,000. Mcdonald Partners LLC raised its holdings in Mondelez International by 39.5% during the 4th quarter. Mcdonald Partners LLC now owns 16,288 shares of the company's stock valued at $973,000 after buying an additional 4,608 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Mondelez International by 57.0% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 62,107 shares of the company's stock valued at $3,710,000 after buying an additional 22,557 shares during the period. Institutional investors own 78.32% of the company's stock.

Mondelez International Stock Up 4.1 %

Shares of MDLZ traded up $2.53 during midday trading on Friday, reaching $64.70. 16,289,816 shares of the stock were exchanged, compared to its average volume of 10,706,063. Mondelez International, Inc. has a 52 week low of $53.95 and a 52 week high of $76.06. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $58.98 and its two-hundred day moving average is $65.89. The company has a market capitalization of $83.69 billion, a P/E ratio of 18.92, a PEG ratio of 4.34 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share 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, sell-side analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current year.

Mondelez International Announces Dividend

The firm 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. This represents a $1.88 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, March 31st. Mondelez International's dividend payout ratio is presently 54.97%.

Mondelez International announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays decreased their price target on Mondelez International from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. 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 report on Wednesday, January 22nd. Piper Sandler lowered Mondelez International from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $70.00 to $63.00 in a report on Friday, January 31st. DZ Bank lowered Mondelez International from a "hold" rating to a "sell" rating and set a $52.00 price target on the stock. in a report on Friday, February 7th. Finally, Wells Fargo & Company decreased their price target on Mondelez International from $61.00 to $54.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.74.

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.