Mondelez International, Inc. (NASDAQ:MDLZ) Stake Reduced by Hartford Financial Management Inc.

Hartford Financial Management Inc. cut its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 38,029 shares of the company’s stock after selling 1,283 shares during the quarter. Hartford Financial Management Inc.’s holdings in Mondelez International were worth $2,802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. purchased a new position in Mondelez International in the 2nd quarter worth about $26,000. Lynx Investment Advisory acquired a new position in shares of Mondelez International in the 2nd quarter valued at about $27,000. Richardson Financial Services Inc. increased its holdings 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 valued at $28,000 after purchasing an additional 200 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Mondelez International in the 2nd quarter valued at about $29,000. Finally, ESL Trust Services LLC acquired a new position in shares of Mondelez International in the 1st quarter valued at about $38,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Stock Down 1.9 %

Shares of Mondelez International stock opened at $68.48 on Friday. The stock has a market capitalization of $91.48 billion, a P/E ratio of 24.28, a PEG ratio of 2.96 and a beta of 0.54. The company has a quick ratio of 0.50, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $72.40 and a two-hundred day moving average price of $69.74. Mondelez International, Inc. has a 12-month low of $64.18 and a 12-month high of $77.20.

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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the prior year, the business earned $0.82 earnings per share. Mondelez International’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Mondelez International, Inc. will post 3.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MDLZ shares. Citigroup dropped their target price on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday. Sanford C. Bernstein dropped their target price on Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Mondelez International in a report on Monday, August 12th. They issued a “buy” rating and a $80.00 target price on the stock. Bank of America increased their price objective on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Evercore ISI increased their price objective on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.94.

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.