Palisade Asset Management LLC Invests $204,000 in Mondelez International, Inc. (NASDAQ:MDLZ)

Palisade Asset Management LLC purchased a new stake in Mondelez International, Inc. (NASDAQ:MDLZ) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,775 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in Mondelez International by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock valued at $1,268,242,000 after purchasing an additional 489,068 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of Mondelez International by 12,057.4% during the 3rd 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. Legal & General Group Plc grew its position in Mondelez International by 2.6% in the second quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock worth $749,467,000 after acquiring an additional 293,773 shares during the period. Dimensional Fund Advisors LP grew its position in Mondelez International by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock worth $587,094,000 after acquiring an additional 1,071,719 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Mondelez International by 1.2% in the third 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 Down 0.6 %

MDLZ stock opened at $64.40 on Friday. The company’s 50 day moving average price is $70.04 and its 200 day moving average price is $69.33. The firm has a market capitalization of $86.12 billion, a price-to-earnings ratio of 22.84, a PEG 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. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.11 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Mondelez International, Inc. will post 3.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MDLZ shares. JPMorgan Chase & Co. increased their price target on Mondelez International from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company lowered their target price on shares of Mondelez International from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Piper Sandler boosted their price target on shares of Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Mondelez International in a research report on Monday, August 12th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Redburn Atlantic assumed coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price for the company. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Mondelez International 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.