Palisade Asset Management LLC Purchases Shares of 2,775 Mondelez International, Inc. (NASDAQ:MDLZ)

Palisade Asset Management LLC acquired a new position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) in the 3rd quarter, Holdings Channel reports. The fund acquired 2,775 shares of the company’s stock, valued at approximately $204,000.

Several other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in Mondelez International by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock worth $1,268,242,000 after acquiring an additional 489,068 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Mondelez International by 12,057.4% during 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. Legal & General Group Plc increased its position in shares of Mondelez International by 2.6% during the second quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock worth $749,467,000 after purchasing an additional 293,773 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mondelez International by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock valued at $587,094,000 after purchasing an additional 1,071,719 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Mondelez International by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,677,194 shares of the company’s stock valued at $565,579,000 after purchasing an additional 88,854 shares during the period. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $64.40 on Friday. The firm’s fifty day simple moving average is $70.04 and its 200-day simple moving average is $69.33. 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 has a market cap of $86.12 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.93 and a beta of 0.55. Mondelez International, Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $77.20.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. Analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MDLZ. DA Davidson cut their price target on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler upped their price target 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. Stifel Nicolaus raised their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of Mondelez International in a report on Monday, August 12th. They issued a “buy” rating and a $80.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Mondelez International from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One 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, the company presently has a consensus 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.