Associated Banc Corp Acquires 1,467 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Associated Banc Corp raised its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612,815 shares of the company’s stock after purchasing an additional 1,467 shares during the quarter. Mondelez International accounts for 1.3% of Associated Banc Corp’s investment portfolio, making the stock its 16th largest position. Associated Banc Corp’s holdings in Mondelez International were worth $45,146,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in Mondelez International during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Mondelez International in the 2nd quarter worth approximately $26,000. Lynx Investment Advisory purchased a new position in Mondelez International in the second quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new position in Mondelez International in the third quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. increased 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 buying an additional 200 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

MDLZ stock traded up $0.25 during mid-day trading on Monday, hitting $64.65. 7,188 shares of the stock were exchanged, compared to its average volume of 6,737,355. The business has a fifty day moving average price of $70.04 and a 200 day moving average price of $69.33. Mondelez International, Inc. has a 12 month low of $63.40 and a 12 month high of $77.20. 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 capitalization of $86.45 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.91 and a beta of 0.55.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MDLZ shares. The Goldman Sachs Group began coverage on Mondelez International in a report on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective for the company. Wells Fargo & Company dropped their price target on shares of Mondelez International from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Bank of America raised their price objective 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. Piper Sandler increased their target price on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Redburn Atlantic began coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target for the company. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and an average target price of $80.31.

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.