Mondelez International, Inc. (NASDAQ:MDLZ) Stock Position Lowered by Parnassus Investments LLC

Parnassus Investments LLC reduced its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,632,299 shares of the company's stock after selling 10,865 shares during the quarter. Parnassus Investments LLC owned about 0.50% of Mondelez International worth $488,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Axiom Advisory LLC lifted its position in shares of Mondelez International by 1.6% in the third quarter. Axiom Advisory LLC now owns 9,152 shares of the company's stock valued at $643,000 after acquiring an additional 143 shares in the last quarter. Cadence Bank boosted its stake in Mondelez International by 1.3% in the 1st quarter. Cadence Bank now owns 11,489 shares of the company's stock worth $804,000 after buying an additional 148 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in Mondelez International by 2.6% in the 1st quarter. Evermay Wealth Management LLC now owns 5,812 shares of the company's stock worth $409,000 after buying an additional 149 shares during the last quarter. Sachetta LLC boosted its stake in Mondelez International by 14.0% in the 2nd quarter. Sachetta LLC now owns 1,215 shares of the company's stock worth $81,000 after buying an additional 149 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Mondelez International by 16.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company's stock worth $78,000 after buying an additional 150 shares during the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of MDLZ traded up $0.03 during mid-day trading on Tuesday, hitting $63.87. The stock had a trading volume of 5,503,489 shares, compared to its average volume of 6,771,340. The company has a market cap of $85.41 billion, a PE ratio of 22.65, a PEG ratio of 2.91 and a beta of 0.55. The company's fifty day simple moving average is $70.87 and its two-hundred day simple moving average is $69.49. 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, Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $77.20.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, topping 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 analyst estimates of $9.11 billion. During the same quarter last year, the firm earned $0.82 EPS. The business's revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Wall Street Analyst Weigh In

MDLZ has been the topic of a number of research analyst reports. Citigroup decreased their price target on Mondelez International from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on Mondelez International in a research note on Monday, August 12th. They issued a "buy" rating and a $80.00 price target on the stock. DA Davidson decreased their price target on Mondelez International from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Piper Sandler raised their price target on Mondelez International from $74.00 to $84.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Redburn Atlantic assumed coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.