Stock Yards Bank & Trust Co. trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,500 shares of the company's stock after selling 12,966 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Mondelez International were worth $25,748,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Mondelez International in the third quarter valued at $25,000. Prospera Private Wealth LLC purchased a new stake in Mondelez International during the 3rd quarter worth about $27,000. Richardson Financial Services Inc. raised its position in 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Mondelez International in the 2nd quarter valued at about $29,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Mondelez International during the third quarter worth about $38,000. 78.32% of the stock is owned by institutional investors and hedge funds.
Mondelez International Stock Performance
Shares of MDLZ stock traded down $0.49 during trading hours on Thursday, hitting $62.63. The stock had a trading volume of 8,035,392 shares, compared to its average volume of 6,910,165. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The firm has a market capitalization of $83.75 billion, a PE ratio of 22.38, a PEG ratio of 2.84 and a beta of 0.53. The stock's 50 day moving average is $67.35 and its 200 day moving average is $68.72. Mondelez International, Inc. has a twelve month low of $60.33 and a twelve month high of $77.20.
Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same period in the previous year, the business posted $0.82 earnings per share. Mondelez International's quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.
Mondelez International announced that its board has approved 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 reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on MDLZ. Piper Sandler raised their target price on shares of Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Stifel Nicolaus raised their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the company a "buy" rating in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on shares of Mondelez International from $78.00 to $74.00 and set an "overweight" rating for the company in a research note on Thursday, December 5th. 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. Finally, Redburn Atlantic began coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a "buy" rating and a $82.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $79.07.
View Our Latest Analysis on MDLZ
About Mondelez International
(
Free Report)
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.
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