Retirement Systems of Alabama Sells 57,471 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Retirement Systems of Alabama cut its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 848,275 shares of the company’s stock after selling 57,471 shares during the quarter. Retirement Systems of Alabama’s holdings in Mondelez International were worth $62,492,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MDLZ. Axiom Advisory LLC raised its position in shares of Mondelez International by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock worth $643,000 after acquiring an additional 143 shares in the last quarter. Sachetta LLC grew its position in shares of Mondelez International by 14.0% during the 2nd quarter. Sachetta LLC now owns 1,215 shares of the company’s stock worth $81,000 after buying an additional 149 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Mondelez International by 16.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock valued at $78,000 after acquiring an additional 150 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Mondelez International by 1.4% during the 3rd quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after acquiring an additional 151 shares during the period. Finally, Pure Financial Advisors LLC boosted its stake in Mondelez International by 4.1% during the second quarter. Pure Financial Advisors LLC now owns 3,853 shares of the company’s stock worth $252,000 after acquiring an additional 153 shares in the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Mondelez International Stock Performance

Mondelez International stock traded down $0.25 during mid-day trading on Friday, reaching $62.38. 303,785 shares of the company’s stock were exchanged, compared to its average volume of 6,881,698. The firm has a market capitalization of $83.41 billion, a PE ratio of 22.21, a P/E/G ratio of 2.85 and a beta of 0.53. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $67.18 and its 200 day simple moving average is $68.68. Mondelez International, Inc. has a one year low of $60.33 and a one year high of $77.20.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 EPS 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 company had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the previous year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler upped their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citigroup lowered their price objective on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. 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. Deutsche Bank Aktiengesellschaft cut shares of Mondelez International from a “buy” rating to a “hold” rating and dropped their price target for the company from $78.00 to $67.00 in a research report on Thursday. Finally, Redburn Atlantic started coverage on Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mondelez International presently has an average rating of “Moderate Buy” and a consensus target price of $79.07.

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.