Kentucky Retirement Systems Insurance Trust Fund Trims Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 8.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,550 shares of the company’s stock after selling 3,714 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Mondelez International were worth $2,914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDLZ. Richardson Financial Services Inc. increased its holdings in Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Mondelez International during the second quarter worth approximately $26,000. Lynx Investment Advisory purchased a new stake in shares of Mondelez International during the second quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Mondelez International in the second quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC purchased a new position in Mondelez International in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI increased their target price on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Piper Sandler lifted their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on Mondelez International from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Citigroup cut their target price on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $64.49 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. Mondelez International, Inc. has a one year low of $63.91 and a one year high of $77.20. The firm has a market capitalization of $86.24 billion, a P/E ratio of 22.87, a PEG ratio of 2.98 and a beta of 0.55. The company’s fifty day moving average is $71.11 and its two-hundred day moving average is $69.56.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 EPS 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 firm 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 firm’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current fiscal year.

Mondelez International Company Profile

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.