Vestcor Inc Sells 61,700 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Vestcor Inc trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 41.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,569 shares of the company's stock after selling 61,700 shares during the period. Vestcor Inc's holdings in Mondelez International were worth $6,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in shares of Mondelez International during the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Mondelez International during the 3rd quarter valued at about $27,000. Richardson Financial Services Inc. raised its holdings in shares of 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 buying an additional 200 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Mondelez International during the 2nd quarter valued at about $29,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Mondelez International during the 3rd quarter valued at about $38,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Stock Up 0.5 %

Shares of NASDAQ:MDLZ traded up $0.31 on Tuesday, reaching $61.75. The company had a trading volume of 9,727,541 shares, compared to its average volume of 6,880,301. Mondelez International, Inc. has a twelve month low of $60.33 and a twelve month high of $77.20. The stock has a 50-day moving average price of $67.76 and a 200 day moving average price of $68.81. The stock has a market capitalization of $82.57 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.84 and a beta of 0.53. 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, topping analysts' consensus estimates 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 analysts' expectations of $9.11 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Mondelez International, Inc. will post 3.48 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Mondelez International from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Citigroup decreased their target price on Mondelez International from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Redburn Atlantic initiated coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a "buy" rating and a $82.00 target price for the company. Finally, Bank of America lifted their target price on Mondelez International from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $79.64.

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.