Payden & Rygel Purchases 115,000 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Payden & Rygel lifted its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 2,516.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,570 shares of the company’s stock after purchasing an additional 115,000 shares during the period. Payden & Rygel’s holdings in Mondelez International were worth $8,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in Mondelez International by 16.6% during the first quarter. Bessemer Group Inc. now owns 96,939 shares of the company’s stock valued at $6,785,000 after purchasing an additional 13,793 shares in the last quarter. Natixis purchased a new position in shares of Mondelez International during the 1st quarter valued at about $502,000. EP Wealth Advisors LLC grew its stake in shares of Mondelez International by 5.6% during the 1st quarter. EP Wealth Advisors LLC now owns 22,500 shares of the company’s stock valued at $1,575,000 after acquiring an additional 1,198 shares during the period. Axxcess Wealth Management LLC increased its holdings in Mondelez International by 2.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 63,687 shares of the company’s stock worth $4,458,000 after acquiring an additional 1,244 shares in the last quarter. Finally, Cadence Bank raised its stake in Mondelez International by 1.3% during the 1st quarter. Cadence Bank now owns 11,489 shares of the company’s stock worth $804,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MDLZ. 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. Bank of America upped their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group began coverage on Mondelez International in a report on Monday, August 12th. They set a “buy” rating and a $80.00 price target on the stock. Citigroup dropped their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.31.

Mondelez International Price Performance

MDLZ stock opened at $64.42 on Thursday. Mondelez International, Inc. has a 52 week low of $63.40 and a 52 week high of $77.20. The firm has a market capitalization of $86.14 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The company has a fifty day simple moving average of $70.45 and a two-hundred day simple moving average of $69.42. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results 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 firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal 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.