Gamco Investors Reduces 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 a recent filing with the Securities and Exchange Commission (SEC). The institutional investor reported owning 491,996 shares after selling 17,130 shares during the quarter, bringing the total value of its holdings to approximately $30.7 million.

Several other institutional investors have also adjusted their positions in Mondelez International. Aptus Capital Advisors LLC increased its stake by 0.7%, now holding 219,714 shares valued at $13.7 million. Meanwhile, Cambria Investment Management L.P. established a new stake worth around $232,000 during the same period. Additionally, Chancellor Financial Group WB LP raised its investment by 2.7%, resulting in a total of 7,710 shares valued at $482,000.

Weik Capital Management also grew its holdings by 7.3%, acquiring 21,395 shares now worth $1.34 million. To conclude this trend, CI Investments Inc. expanded its position by 9.3%, totaling 634,794 shares valued at $39.7 million. In total, institutional investors own 78.32% of Mondelez International’s stock.

Market Performance and Upcoming Dividends

The stock price of Mondelez International has shown recent growth, opening at $58.40 on the last trading day. The company has experienced a 12-month low of $51.20 and a high of $71.15. The current market capitalization stands at $74.86 billion, with a P/E ratio of 31.06.

Mondelez also announced a quarterly dividend of $0.50 per share, set to be paid on April 14, 2024, to shareholders of record by March 31, 2024. This dividend represents an annualized total of $2.00 per share, yielding approximately 3.4%. Notably, the company’s payout ratio is currently 106.38%, indicating a commitment to returning value to its shareholders.

Insider Transactions and Analyst Ratings

In other news related to Mondelez International, executive vice president Gustavo Carlos Valle sold 3,000 shares on February 13, 2024, at an average price of $62.00, totaling $186,000. Following this transaction, Valle retained 99,596 shares valued at approximately $6.17 million. This sale reflects a 2.92% decrease in his holdings.

Wall Street analysts have recently reviewed Mondelez International with varying outlooks. Weiss Ratings maintained a “hold” rating, while Bank of America revised its price target from $69.00 to $62.00 with a “buy” rating. Similarly, Mizuho adjusted its target from $70.00 to $67.00 and set an “outperform” rating. JPMorgan Chase & Co. and Morgan Stanley also lowered their price targets, reflecting a cautious approach toward the stock.

Overall, thirteen analysts have rated Mondelez International as a “buy,” while seven maintained a “hold” rating. According to data from MarketBeat, the consensus rating for the company is “Moderate Buy,” with an average price target of $67.06.

Mondelez International, headquartered in Chicago, Illinois, is a leading global snacks company formed in 2012 following the split of Kraft Foods. The company develops, manufactures, and markets a diverse range of snack products, including biscuits, chocolate, and confectionery, catering to retail and foodservice channels worldwide.