Kovitz Investment Group Partners LLC Sells 362,779 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Kovitz Investment Group Partners LLC cut its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 72.3% in the third quarter, Holdings Channel.com reports. The firm owned 138,932 shares of the company’s stock after selling 362,779 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Mondelez International were worth $10,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of MDLZ. Truvestments Capital LLC bought a new stake in Mondelez International in the 3rd quarter valued at $25,000. Prospera Private Wealth LLC bought a new position in shares of Mondelez International during the 3rd quarter worth about $27,000. Richardson Financial Services Inc. lifted its holdings in shares of 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 acquiring an additional 200 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Mondelez International during the 2nd quarter worth about $29,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Mondelez International during the 3rd quarter worth about $38,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Trading Down 0.6 %

MDLZ opened at $62.86 on Friday. 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 stock has a market capitalization of $84.06 billion, a PE ratio of 22.29, a PEG ratio of 2.86 and a beta of 0.53. Mondelez International, Inc. has a 1-year low of $62.43 and a 1-year high of $77.20. The firm has a 50-day moving average price of $68.00 and a two-hundred day moving average price of $68.87.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The firm 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 company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. As a group, equities analysts anticipate 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 firms have recently commented on MDLZ. Citigroup reduced their price objective 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. Evercore ISI raised their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. 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 report on Friday, October 25th. The Goldman Sachs Group began coverage on shares of Mondelez International in a report on Monday, August 12th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Mondelez International from $78.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.64.

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.