Kentucky Retirement Systems Reduces Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Kentucky Retirement Systems lowered its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 7.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 93,059 shares of the company's stock after selling 8,021 shares during the quarter. Kentucky Retirement Systems' holdings in Mondelez International were worth $6,856,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MDLZ. Massachusetts Financial Services Co. MA boosted its holdings in shares of Mondelez International by 40.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company's stock valued at $1,094,557,000 after buying an additional 4,794,746 shares in the last quarter. Capital Research Global Investors boosted its stake in Mondelez International by 7.3% in the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company's stock valued at $2,274,792,000 after acquiring an additional 2,206,023 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Mondelez International by 6,311.0% during the second quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company's stock worth $114,575,000 after purchasing an additional 1,723,537 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Mondelez International by 231.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,804,722 shares of the company's stock valued at $118,101,000 after purchasing an additional 1,260,124 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Mondelez International in the first quarter valued at approximately $75,514,000. Hedge funds and other institutional investors own 78.32% of the company's stock.

Mondelez International Price Performance

Shares of MDLZ traded down $1.07 on Friday, reaching $64.49. The stock had a trading volume of 7,204,038 shares, compared to its average volume of 6,775,558. The firm has a 50-day moving average of $71.11 and a 200 day moving average of $69.56. The firm has a market capitalization of $86.24 billion, a PE ratio of 22.87, a PEG ratio of 2.98 and a beta of 0.55. Mondelez International, Inc. has a twelve month low of $63.91 and a twelve month high of $77.20. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.14. The business had revenue of $9.20 billion during the quarter, compared to analysts' expectations of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.82 earnings per share. Sell-side analysts expect that Mondelez International, Inc. will post 3.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Redburn Atlantic began coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They set a "buy" rating and a $82.00 price target for the company. Stifel Nicolaus upped their price objective on Mondelez International from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, October 25th. 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 research report on Tuesday, October 15th. Piper Sandler boosted their target price on Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Citigroup decreased their price target on Mondelez International from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.31.

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.