Mondelez International, Inc. $MDLZ Stock: Allspring Global Investments Holdings LLC Cuts Position

Key Points

• Allspring Global Investments cut its Mondelez stake by 9.5% in the third quarter, selling 141,362 shares; it still held 1.35 million shares valued at about $78.2 million.
• Analysts maintain a “Moderate Buy” consensus, with 17 Buy and 10 Hold ratings and an average price target of $69.30.
• Mondelez earned $0.78 per share in its latest quarter, beating the $0.71 estimate; revenue was $9.97 billion, slightly below forecasts, but up 2.3% year over year.

Allspring Global Investments Holdings LLC lessened its stake in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 9.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,354,026 shares of the company's stock after selling 141,362 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of Mondelez International worth $78,209,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MDLZ. Deutsche Bank AG grew its stake in shares of Mondelez International by 1.1% during the second quarter. Deutsche Bank AG now owns 13,016,006 shares of the company's stock worth $752,846,000 after purchasing an additional 140,351 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Mondelez International by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,435,171 shares of the company's stock valued at $543,900,000 after acquiring an additional 916,235 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mondelez International by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 8,458,056 shares of the company's stock valued at $487,522,000 after acquiring an additional 106,636 shares during the last quarter. Swiss National Bank increased its holdings in shares of Mondelez International by 6.8% in the 1st quarter. Swiss National Bank now owns 3,786,924 shares of the company's stock valued at $218,278,000 after acquiring an additional 241,100 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Mondelez International by 0.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,777,181 shares of the company's stock worth $218,472,000 after acquiring an additional 25,926 shares in the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDLZ has been the subject of several recent analyst reports. UBS Group restated a "neutral" rating and set a $72.00 target price on shares of Mondelez International in a research note on Monday, November 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $66.00 price target on shares of Mondelez International in a research note on Monday, October 26th. Stifel Nicolaus set a $74.00 price target on shares of Mondelez International in a research note on Friday, October 30th. Freedom Broker raised shares of Mondelez International from a "hold" rating to a "buy" rating and set a $71.00 price objective on the stock in a report on Friday, October 30th. Finally, BNP Paribas Exane boosted their price objective on shares of Mondelez International from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, October 30th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.30.

Mondelez International Trading Up 0.6%

Shares of Mondelez International stock opened at $66.44 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.42 and a current ratio of 0.62. The company has a market capitalization of $84.80 billion, a P/E ratio of 23.23, a PEG ratio of 2.68 and a beta of 0.34. Mondelez International, Inc. has a 1 year low of $51.20 and a 1 year high of $68.75. The company's fifty day moving average is $62.16 and its two-hundred day moving average is $60.62.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.98 billion. Mondelez International had a net margin of 10.22% and a return on equity of 14.18%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Analysts forecast that Mondelez International, Inc. will post 3.06 earnings per share for the current year.

Insider Buying and Selling at Mondelez International

In other news, CEO Dirk Van de Put sold 133,580 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $64.08, for a total value of $8,559,806.40. Following the transaction, the chief executive officer owned 1,326,488 shares of the company's stock, valued at approximately $85,001,351.04. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 392,150 shares of company stock valued at $25,893,046. Company insiders own 0.45% of the company's stock.

Mondelez International Profile

Mondelez International, Inc is a global snacking company that makes and markets biscuits, chocolate, candy, gum and other snack products. Its brands include Oreo, Ritz, LU, belVita, Cadbury, Milka, Toblerone and Sour Patch Kids.

The company sells its products in countries around the world, with a particularly strong presence in Europe and emerging markets. Mondelez was created in 2012 when Kraft Foods separated its international snacks business from its North American grocery business.

Dirk Van de Put has served as Mondelez's chairman and chief executive officer since 2017.

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