Tower Bridge Advisors Sells 2,311 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Tower Bridge Advisors trimmed its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 68,408 shares of the company’s stock after selling 2,311 shares during the quarter. Tower Bridge Advisors’ holdings in Mondelez International were worth $5,040,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Mondelez International in the second quarter worth approximately $26,000. Lynx Investment Advisory bought a new stake in Mondelez International in the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. raised its stake in 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 last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Mondelez International during the 2nd quarter valued at $29,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Mondelez International in the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Price Performance

Shares of Mondelez International stock opened at $64.49 on Friday. The company has a market capitalization of $86.24 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 2.91 and a beta of 0.55. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The stock’s 50-day simple moving average is $71.11 and its 200-day simple moving average is $69.55. Mondelez International, Inc. has a 52 week low of $63.91 and a 52 week high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results 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 return on equity of 17.53% and a net margin of 10.58%. The company had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MDLZ shares. Redburn Atlantic assumed coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut their target price on shares of Mondelez International from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Citigroup reduced their target price on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, DA Davidson dropped their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and a consensus price target of $80.31.

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.