TCW Group Inc. Cuts Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

TCW Group Inc. decreased its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,904 shares of the company’s stock after selling 436 shares during the period. TCW Group Inc.’s holdings in Mondelez International were worth $7,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Truvestments Capital LLC bought a new position in shares of Mondelez International in the 3rd quarter worth $25,000. Prospera Private Wealth LLC bought a new position in Mondelez International in the third quarter worth about $27,000. Richardson Financial Services Inc. raised its holdings in Mondelez International by 100.0% in 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Mondelez International during the second quarter valued at about $29,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Mondelez International in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MDLZ. Piper Sandler boosted their price objective on shares of Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus raised their price objective on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on Mondelez International from $78.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, December 5th. Finally, Evercore ISI raised their price target 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 fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.64.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $63.12 on Thursday. Mondelez International, Inc. has a 52 week low of $60.33 and a 52 week high of $77.20. The business’s 50 day moving average price is $67.54 and its 200 day moving average price is $68.76. 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 firm has a market cap of $84.40 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.84 and a beta of 0.53.

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

Mondelez International declared that its board has authorized a share buyback plan 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 plans are generally a sign that the company’s board believes its stock is undervalued.

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.