Principal Financial Group Inc. Grows Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Principal Financial Group Inc. raised its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,567,067 shares of the company's stock after purchasing an additional 82,742 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Mondelez International worth $115,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Mondelez International by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company's stock valued at $9,153,609,000 after buying an additional 6,696,897 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Mondelez International by 40.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company's stock worth $1,094,557,000 after purchasing an additional 4,794,746 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Mondelez International by 7.3% during the 1st quarter. Capital Research Global Investors now owns 32,497,024 shares of the company's stock valued at $2,274,792,000 after purchasing an additional 2,206,023 shares during the period. Wulff Hansen & CO. increased its position in shares of Mondelez International by 6,311.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company's stock valued at $114,575,000 after purchasing an additional 1,723,537 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 worth $118,101,000 after purchasing an additional 1,260,124 shares during the period. Institutional investors own 78.32% of the company's stock.

Wall Street Analyst Weigh In

MDLZ has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Mondelez International from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on Mondelez International from $78.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Piper Sandler lifted their target price on Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Sanford C. Bernstein cut their price target on Mondelez International from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, July 17th. Finally, Wells Fargo & Company decreased their price objective on Mondelez International from $82.00 to $78.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.31.

Mondelez International Price Performance

MDLZ traded up $0.48 during trading on Friday, hitting $66.20. 4,864,543 shares of the company traded hands, compared to its average volume of 6,150,411. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market cap of $88.52 billion, a PE ratio of 23.48, a P/E/G ratio of 2.85 and a beta of 0.55. The stock's 50-day simple moving average is $71.93 and its two-hundred day simple moving average is $69.75. Mondelez International, Inc. has a 1 year low of $64.18 and a 1 year high of $77.20.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Mondelez International, Inc. will post 3.49 earnings per share for the current fiscal year.

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.