Short Interest in Mondelez International, Inc. (NASDAQ:MDLZ) Drops By 15.5%

Mondelez International, Inc. (NASDAQ:MDLZ) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 10,780,000 shares, a decline of 15.5% from the October 31st total of 12,760,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 6,050,000 shares, the days-to-cover ratio is currently 1.8 days.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Bank of America increased their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler raised their price objective 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. Redburn Atlantic started coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price for the company. Evercore ISI lifted their price target on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company cut their price objective on Mondelez International from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and an average price target of $79.93.

Mondelez International Stock Performance

Shares of MDLZ opened at $64.95 on Friday. Mondelez International has a one year low of $63.40 and a one year high of $77.20. The company has a 50-day moving average of $69.04 and a two-hundred day moving average of $69.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The stock has a market cap of $86.85 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.94 and a beta of 0.55.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.14. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. On average, equities research analysts expect that Mondelez International will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Mondelez International

Several hedge funds have recently bought and sold shares of the business. Axiom Advisory LLC increased its holdings in shares of Mondelez International by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock valued at $643,000 after purchasing an additional 143 shares during the period. Sachetta LLC increased its stake in Mondelez International by 14.0% in the 2nd quarter. Sachetta LLC now owns 1,215 shares of the company’s stock valued at $81,000 after buying an additional 149 shares during the period. Hazlett Burt & Watson Inc. lifted its position in Mondelez International by 16.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock worth $78,000 after buying an additional 150 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Mondelez International by 1.4% during the 3rd quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after buying an additional 151 shares during the period. Finally, Pure Financial Advisors LLC grew its holdings in shares of Mondelez International by 4.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 3,853 shares of the company’s stock valued at $252,000 after acquiring an additional 153 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

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.