Gamco Investors Cuts Stake in Mondelez International by 3.4%

Gamco Investors INC. has decreased its holdings in Mondelez International, Inc. (NASDAQ: MDLZ) by 3.4% during the third quarter, according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now owns 491,996 shares of Mondelez after selling 17,130 shares during the quarter, bringing the total value of its stake to approximately $30.7 million.

Other institutional investors have also adjusted their positions in Mondelez. For instance, Aptus Capital Advisors LLC increased its stake by 0.7%, now holding 219,714 shares valued at $13.7 million after acquiring an additional 1,532 shares. Cambria Investment Management L.P. entered a new position valued at about $232,000. Chancellor Financial Group WB LP boosted its holdings by 2.7%, bringing its total to 7,710 shares worth $482,000 after acquiring 203 shares. Additionally, Weik Capital Management grew its stake by 7.3%, holding 21,395 shares valued at $1.34 million. CI Investments Inc. increased its holdings by 9.3%, now owning 634,794 shares worth $39.66 million.

Hedge funds and other institutional investors collectively own 78.32% of Mondelez’s stock.

Market Performance and Dividend Declaration

As of the latest trading session, Mondelez International’s shares opened at $58.40. Over the past year, the stock has experienced a low of $51.20 and a high of $71.15. The company maintains a fifty-day simple moving average of $58.07 and a two-hundred-day simple moving average of $58.83. Financial ratios indicate a current ratio of 0.59, a quick ratio of 0.39, and a debt-to-equity ratio of 0.67. Mondelez has a market capitalization of $74.86 billion, a price-to-earnings (P/E) ratio of 31.06, and a P/E growth (P/E/G) ratio of 2.42.

In a recent announcement, Mondelez declared a quarterly dividend of $0.50 per share, scheduled for payment on April 14, 2024. Shareholders of record on March 31, 2024, will qualify for this dividend. The ex-dividend date is also set for March 31. This dividend translates to an annualized amount of $2.00 per share, yielding approximately 3.4%. The company’s payout ratio currently stands at 106.38%.

Insider Activity and Analyst Ratings

In related news, Gustavo Carlos Valle, Executive Vice President of Mondelez, sold 3,000 shares of the company’s stock on February 13, 2024, at an average price of $62.00, totaling $186,000. Following this transaction, Valle holds 99,596 shares in Mondelez, valued at approximately $6.17 million. This sale represents a 2.92% decrease in his position. Insider ownership accounts for 0.41% of the company’s shares.

Several analysts have recently provided updates on Mondelez stock. Weiss Ratings reaffirmed a “hold (c)” rating in a report released on January 9, 2024. Meanwhile, Bank of America revised its price target for Mondelez from $69.00 to $62.00, maintaining a “buy” rating. Mizuho also lowered its target price from $70.00 to $67.00, rating the stock as “outperform.” Similarly, JPMorgan Chase & Co. decreased its price target from $69.00 to $67.00, while Morgan Stanley set a target of $64.00, down from $68.00.

Currently, thirteen equity research analysts have assigned a “buy” rating to Mondelez, while seven have issued a “hold” rating. According to data from MarketBeat, the consensus rating for Mondelez International is “Moderate Buy,” with an average price target of $67.06.

Mondelez International, headquartered in Chicago, Illinois, is a global leader in the snacks market. Formed in 2012 during the split of Kraft Foods, the company specializes in a diverse range of snack products marketed for retail and e-commerce channels. Its portfolio includes biscuits, chocolate, gum, candy, and savory snacks, catering to a global audience.