Advisors Asset Management Inc. Sells 46,107 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Advisors Asset Management Inc. trimmed its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 23.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,224 shares of the company’s stock after selling 46,107 shares during the period. Advisors Asset Management Inc.’s holdings in Mondelez International were worth $10,993,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MDLZ. Mizuho Securities USA LLC lifted its stake 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 valued at $926,327,000 after buying an additional 12,470,573 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Mondelez International by 40.2% in the second 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. Capital Research Global Investors raised its position in Mondelez International by 7.3% in the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock worth $2,274,792,000 after purchasing an additional 2,206,023 shares in the last quarter. Wulff Hansen & CO. raised its position in Mondelez International by 6,311.0% in the second quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company’s stock worth $114,575,000 after purchasing an additional 1,723,537 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Mondelez International by 231.4% in the second quarter. Renaissance Technologies LLC now owns 1,804,722 shares of the company’s stock worth $118,101,000 after purchasing an additional 1,260,124 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MDLZ shares. Wells Fargo & Company dropped 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. DA Davidson dropped their price objective on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. 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. Piper Sandler raised their price objective on shares of Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, 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. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Mondelez International Price Performance

Shares of MDLZ stock opened at $63.87 on Wednesday. Mondelez International, Inc. has a 12-month low of $63.40 and a 12-month high of $77.20. The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth 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 firm has a fifty day moving average of $70.65 and a 200-day moving average of $69.45.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly 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 net margin of 10.58% and a return on equity of 17.53%. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current 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.