Conning Inc. Has $37.41 Million Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Conning Inc. lessened its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 507,795 shares of the company’s stock after selling 27,827 shares during the quarter. Conning Inc.’s holdings in Mondelez International were worth $37,409,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new position in Mondelez International during the second quarter worth about $26,000. Lynx Investment Advisory bought a new position in shares of Mondelez International during the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. grew its position in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Mondelez International during the second quarter worth $29,000. Finally, ESL Trust Services LLC acquired a new position in Mondelez International during the first quarter worth $38,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDLZ. Stifel Nicolaus upped their target price on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein decreased their price objective on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on shares of Mondelez International in a research note on Monday, August 12th. They issued a “buy” rating and a $80.00 target price for the company. Piper Sandler increased their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI raised their price target on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.94.

Mondelez International Stock Performance

Shares of NASDAQ:MDLZ opened at $68.51 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.50 and a debt-to-equity ratio of 0.59. Mondelez International, Inc. has a 1-year low of $64.18 and a 1-year high of $77.20. The stock has a market capitalization of $91.52 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.97 and a beta of 0.55. The business has a 50-day moving average price of $72.35 and a two-hundred day moving average price of $69.79.

Mondelez International (NASDAQ:MDLZ) last posted 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 net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. Mondelez International’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Mondelez International, Inc. will post 3.49 earnings per share for the current 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.