Meridian Wealth Management LLC Takes Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Meridian Wealth Management LLC purchased a new stake in Mondelez International, Inc. (NASDAQ:MDLZ) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,353 shares of the company’s stock, valued at approximately $615,000.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Mondelez International in the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its stake in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Mondelez International in the 2nd quarter valued at approximately $26,000. Lynx Investment Advisory purchased a new position in Mondelez International in the 2nd quarter valued at approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Mondelez International in the 2nd quarter valued at approximately $29,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Trading Down 0.6 %

Shares of MDLZ opened at $64.40 on Monday. The stock’s 50-day moving average is $70.04 and its two-hundred day moving average is $69.33. The stock has a market cap of $86.12 billion, a PE ratio of 22.84, a P/E/G ratio of 2.93 and a beta of 0.55. Mondelez International, Inc. has a 12 month low of $63.40 and a 12 month high of $77.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42.

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, 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 business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDLZ has been the subject of several recent research reports. Bank of America raised their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their price target 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. Piper Sandler raised their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on Mondelez International in a research report on Monday, August 12th. They set a “buy” rating and a $80.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.31.

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.