abrdn plc Boosts Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

abrdn plc boosted its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 13.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 870,892 shares of the company’s stock after buying an additional 106,206 shares during the quarter. abrdn plc’s holdings in Mondelez International were worth $63,998,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of Mondelez International by 0.3% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 201,115 shares of the company’s stock worth $14,816,000 after purchasing an additional 568 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Mondelez International by 1.7% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 32,683 shares of the company’s stock worth $2,404,000 after buying an additional 551 shares during the period. Strategic Wealth Investment Group LLC increased its stake in Mondelez International by 40.4% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 139,572 shares of the company’s stock worth $10,187,000 after buying an additional 40,154 shares in the last quarter. Orrstown Financial Services Inc. bought a new stake in Mondelez International during the third quarter valued at about $382,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Mondelez International by 21.1% in the third quarter. Nisa Investment Advisors LLC now owns 525,054 shares of the company’s stock valued at $38,928,000 after acquiring an additional 91,449 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Down 0.6 %

Shares of MDLZ opened at $69.15 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $72.47 and a 200 day moving average of $69.75. The company has a market cap of $92.75 billion, a PE ratio of 21.95, a P/E/G ratio of 2.98 and a beta of 0.54. Mondelez International, Inc. has a 52-week low of $64.18 and a 52-week high of $77.20.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. The firm had revenue of $8.34 billion during the quarter, compared to analyst estimates of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. On average, sell-side analysts expect that Mondelez International, Inc. will post 3.49 EPS for the current year.

Analysts Set New Price Targets

MDLZ has been the subject of several research analyst reports. Barclays cut their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Evercore ISI lifted their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group began coverage on shares of Mondelez International in a research note on Monday, August 12th. They set a “buy” rating and a $80.00 target price for the company. Finally, Bank of America increased their price objective on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.35.

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.