Cim Investment Management Inc. Decreases Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Cim Investment Management Inc. decreased its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,712 shares of the company’s stock after selling 269 shares during the quarter. Cim Investment Management Inc.’s holdings in Mondelez International were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in Mondelez International during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC purchased a new position in Mondelez International in the 3rd quarter valued at about $27,000. Richardson Financial Services Inc. grew its stake in shares of Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Mondelez International during the second quarter worth about $29,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Mondelez International in the third quarter worth about $38,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Performance

MDLZ stock opened at $62.63 on Friday. The company has a market capitalization of $83.75 billion, a P/E ratio of 22.21, a PEG ratio of 2.85 and a beta of 0.53. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $67.18 and a 200 day simple moving average of $68.68. Mondelez International, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted 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 business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts predict that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Mondelez International declared that its board has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Redburn Atlantic began coverage on Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective for the company. Evercore ISI lifted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Bank of America upped their price target on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus raised their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler upped their target price 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. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.07.

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.