The Manufacturers Life Insurance Company Reduces Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

The Manufacturers Life Insurance Company decreased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 891,160 shares of the company’s stock after selling 6,175 shares during the period. The Manufacturers Life Insurance Company’s holdings in Mondelez International were worth $65,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC purchased a new stake in Mondelez International during the third quarter worth $25,000. Prospera Private Wealth LLC acquired a new position in shares of Mondelez International during the 3rd quarter worth $27,000. Richardson Financial Services Inc. boosted its position in shares of Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Mondelez International in the 2nd quarter valued at about $26,000. Finally, Lynx Investment Advisory purchased a new position in Mondelez International during the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Stock Performance

Shares of NASDAQ:MDLZ opened at $65.06 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. Mondelez International, Inc. has a 12 month low of $63.40 and a 12 month high of $77.20. The firm has a market capitalization of $87.00 billion, a PE ratio of 23.07, a P/E/G ratio of 2.93 and a beta of 0.55. The business has a 50-day moving average of $69.42 and a two-hundred day moving average of $69.22.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results 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 net margin of 10.58% and a return on equity of 17.53%. The firm had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MDLZ. The Goldman Sachs Group initiated coverage on shares of Mondelez International in a report on Monday, August 12th. They issued a “buy” rating and a $80.00 price target on the stock. Piper Sandler upped their target price on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Redburn Atlantic began coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Bank of America lifted their price objective on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

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.