M&T Bank Corp trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 25.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,691 shares of the company's stock after selling 112,696 shares during the quarter. M&T Bank Corp's holdings in Mondelez International were worth $23,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. Truvestments Capital LLC bought a new stake in Mondelez International during the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International during the 3rd quarter valued at about $27,000. Richardson Financial Services Inc. increased its stake in Mondelez International by 100.0% during 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. bought a new stake in Mondelez International during the 2nd quarter valued at about $29,000. Finally, Highline Wealth Partners LLC bought a new stake in Mondelez International during the 3rd quarter valued at about $38,000. 78.32% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
MDLZ has been the subject of a number of analyst reports. 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 research note on Friday, October 25th. Wells Fargo & Company reduced their price objective 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. Bank of America raised their price objective on shares of Mondelez International from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Citigroup reduced their price target on shares of Mondelez International from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Mondelez International presently has a consensus rating of "Moderate Buy" and an average price target of $79.64.
Check Out Our Latest Report on MDLZ
Mondelez International Stock Performance
Shares of MDLZ traded up $1.37 on Wednesday, reaching $63.12. The company's stock had a trading volume of 12,900,681 shares, compared to its average volume of 6,905,494. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. Mondelez International, Inc. has a 12-month low of $60.33 and a 12-month high of $77.20. The stock has a market capitalization of $84.40 billion, a P/E ratio of 22.66, a PEG ratio of 2.84 and a beta of 0.53. The stock's 50 day simple moving average is $67.54 and its two-hundred day simple moving average is $68.76.
Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings results 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 net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. 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 initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.
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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