ICICI Prudential Asset Management Co Ltd Buys 2,703 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

ICICI Prudential Asset Management Co Ltd grew its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 18.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,438 shares of the company’s stock after acquiring an additional 2,703 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Mondelez International were worth $1,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MDLZ. E Fund Management Hong Kong Co. Ltd. purchased a new position in Mondelez International in the second quarter worth about $26,000. Lynx Investment Advisory purchased a new position in Mondelez International in the second quarter worth about $27,000. Richardson Financial Services Inc. boosted its position in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Mondelez International in the second quarter worth about $29,000. Finally, ESL Trust Services LLC purchased a new position in Mondelez International in the first quarter worth about $38,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Price Performance

NASDAQ:MDLZ traded down $0.98 during trading hours on Wednesday, reaching $65.54. The stock had a trading volume of 995,958 shares, compared to its average volume of 6,753,363. 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, Inc. has a 52 week low of $64.18 and a 52 week high of $77.20. The company has a 50 day moving average price of $71.70 and a two-hundred day moving average price of $69.67. The stock has a market capitalization of $87.64 billion, a PE ratio of 23.59, a PEG ratio of 2.99 and a beta of 0.55.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data 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 the consensus estimate of $9.11 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on MDLZ shares. Barclays dropped their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. DA Davidson lowered their price objective 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. Citigroup lowered their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Sanford C. Bernstein lowered their price objective on Mondelez International from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company lowered their price objective on Mondelez International from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and an average target price 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.