Sumitomo Mitsui Trust Group Inc. Increases Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Sumitomo Mitsui Trust Group Inc. raised its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,445,724 shares of the company’s stock after buying an additional 50,094 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Mondelez International were worth $253,846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Mondelez International during the 2nd quarter valued at about $26,000. Lynx Investment Advisory acquired a new stake in Mondelez International during the second quarter worth about $27,000. Richardson Financial Services Inc. raised its stake in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Mondelez International in the 2nd quarter valued at about $29,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Mondelez International in the 1st quarter valued at approximately $38,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Price Performance

Shares of MDLZ opened at $66.52 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. Mondelez International, Inc. has a fifty-two week low of $64.18 and a fifty-two week high of $77.20. The company has a market cap of $88.95 billion, a P/E ratio of 23.59, a PEG ratio of 2.99 and a beta of 0.55. The firm’s 50 day moving average price is $71.82 and its 200 day moving average price is $69.70.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MDLZ shares. Bank of America lifted their price target on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler lifted their target price on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group began coverage on Mondelez International in a report on Monday, August 12th. They set a “buy” rating and a $80.00 price target for the company. Redburn Atlantic assumed coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Evercore ISI increased their target price on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and an average target price of $80.31.

Mondelez International Company 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.