Mondelez International, Inc. (NASDAQ:MDLZ) Holdings Cut by SouthState Corp

SouthState Corp decreased its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,318 shares of the company’s stock after selling 327 shares during the quarter. SouthState Corp’s holdings in Mondelez International were worth $12,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Mondelez International during the 2nd quarter valued at $26,000. Lynx Investment Advisory bought a new position in shares of Mondelez International during the 2nd quarter valued at $27,000. Richardson Financial Services Inc. raised its holdings in shares of Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Mondelez International during the 2nd quarter valued at $29,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Mondelez International during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Mondelez International from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on shares of Mondelez International in a research note on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective for the company. Bank of America raised their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus boosted their target price on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, DA Davidson lowered their price target on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and an average price target of $80.31.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $63.84 on Tuesday. Mondelez International, Inc. has a 1-year low of $63.72 and a 1-year high of $77.20. The firm has a market capitalization of $85.37 billion, a PE ratio of 22.64, a PEG ratio of 2.91 and a beta of 0.55. The business’s 50 day moving average is $70.87 and its 200-day moving average is $69.49. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. Mondelez International’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. Sell-side analysts predict that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

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.