Parnassus Investments LLC Reduces Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Parnassus Investments LLC lowered its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,632,299 shares of the company’s stock after selling 10,865 shares during the quarter. Parnassus Investments LLC owned about 0.50% of Mondelez International worth $488,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MDLZ. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Mondelez International during the 3rd quarter valued at approximately $10,029,000. Fifth Third Wealth Advisors LLC lifted its stake in shares of Mondelez International by 26.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 18,248 shares of the company’s stock valued at $1,344,000 after purchasing an additional 3,827 shares during the period. BIP Wealth LLC purchased a new position in shares of Mondelez International in the 3rd quarter valued at approximately $210,000. Prospera Financial Services Inc boosted its position in shares of Mondelez International by 2.7% during the third quarter. Prospera Financial Services Inc now owns 52,150 shares of the company’s stock valued at $3,843,000 after purchasing an additional 1,362 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in Mondelez International in the third quarter worth $2,968,000. 78.32% of the stock is owned by institutional investors.

Mondelez International Trading Down 1.0 %

Shares of NASDAQ:MDLZ opened at $63.84 on Tuesday. 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, Inc. has a 1 year low of $63.72 and a 1 year high of $77.20. The company has a market cap of $85.37 billion, a P/E ratio of 22.64, a PEG ratio of 2.91 and a beta of 0.55. The stock’s fifty day moving average price is $70.87 and its 200-day moving average price is $69.49.

Mondelez International (NASDAQ:MDLZ) last posted 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 net margin of 10.58% and a return on equity of 17.53%. The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on MDLZ shares. Stifel Nicolaus raised their price objective on Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Redburn Atlantic began coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Bank of America raised their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, DA Davidson dropped 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. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.