Payden & Rygel Increases Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Payden & Rygel increased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 2,516.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,570 shares of the company’s stock after purchasing an additional 115,000 shares during the period. Payden & Rygel’s holdings in Mondelez International were worth $8,809,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its holdings in shares of Mondelez International by 12,057.4% in the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock worth $926,327,000 after purchasing an additional 12,470,573 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Mondelez International by 40.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after buying an additional 4,794,746 shares during the period. Wulff Hansen & CO. grew its stake in Mondelez International by 6,311.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company’s stock worth $114,575,000 after acquiring an additional 1,723,537 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Mondelez International by 231.4% during the second quarter. Renaissance Technologies LLC now owns 1,804,722 shares of the company’s stock worth $118,101,000 after acquiring an additional 1,260,124 shares during the period. Finally, Swedbank AB bought a new stake in shares of Mondelez International during the first quarter valued at approximately $75,514,000. 78.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDLZ. JPMorgan Chase & Co. increased their price objective on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Citigroup dropped their price target 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. DA Davidson decreased their price objective on Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler raised their target price on shares of Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target 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. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Mondelez International currently has an average rating of “Moderate Buy” and an average target price of $80.31.

Mondelez International Stock Performance

Shares of MDLZ stock opened at $64.42 on Thursday. Mondelez International, Inc. has a 12-month low of $63.40 and a 12-month high of $77.20. The business’s fifty day simple moving average is $70.45 and its 200-day simple moving average is $69.42. 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 $86.14 billion, a PE ratio of 22.84, a PEG ratio of 2.88 and a beta of 0.55.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.11 billion. During the same period in the prior year, the company posted $0.82 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts expect that Mondelez International, Inc. will post 3.48 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.