Comerica Bank trimmed its stake in shares of Mondelez International Inc (NASDAQ:MDLZ) by 12.0% in the 3rd quarter, Holdings Channel reports. The firm owned 547,405 shares of the company’s stock after selling 74,300 shares during the quarter. Comerica Bank’s holdings in Mondelez International were worth $22,586,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quad Cities Investment Group LLC purchased a new stake in Mondelez International in the 2nd quarter worth about $111,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Mondelez International in the 3rd quarter worth about $129,000. Kaizen Advisory LLC lifted its stake in Mondelez International by 131.7% in the 2nd quarter. Kaizen Advisory LLC now owns 3,387 shares of the company’s stock worth $139,000 after acquiring an additional 1,925 shares in the last quarter. BKS Advisors LLC purchased a new stake in Mondelez International in the 3rd quarter worth about $141,000. Finally, Sun Life Financial INC lifted its stake in Mondelez International by 1,312.4% in the 2nd quarter. Sun Life Financial INC now owns 3,997 shares of the company’s stock worth $164,000 after acquiring an additional 3,714 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.
Shares of MDLZ stock opened at $41.98 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.58. Mondelez International Inc has a fifty-two week low of $37.42 and a fifty-two week high of $46.54. The stock has a market capitalization of $61.57 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.91 and a beta of 0.75.
Several equities research analysts recently issued reports on MDLZ shares. UBS Group set a $51.00 price objective on Mondelez International and gave the stock a “buy” rating in a research note on Monday, September 10th. Credit Suisse Group set a $48.00 target price on Mondelez International and gave the stock a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research raised Mondelez International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. BidaskClub raised Mondelez International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Finally, Morgan Stanley assumed coverage on Mondelez International in a research report on Monday, September 17th. They issued an “equal weight” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.17.
In other news, EVP Maurizio Brusadelli sold 7,381 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $43.74, for a total transaction of $322,844.94. Following the transaction, the executive vice president now owns 73,959 shares of the company’s stock, valued at approximately $3,234,966.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel P. Myers sold 27,963 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $43.44, for a total value of $1,214,712.72. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Mondelez International Company Profile
Mondelez International, Inc, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
Featured Article: What are retained earnings?
Want to see what other hedge funds are holding MDLZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mondelez International Inc (NASDAQ:MDLZ).
Receive News & Ratings for Mondelez International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mondelez International and related companies with MarketBeat.com's FREE daily email newsletter.