Retirement Systems of Alabama Acquires 68,488 Shares of Mondelez International, Inc. $MDLZ

Key Points

• Retirement Systems of Alabama increased its Mondelez stake by 7.9%, buying 68,488 shares in the third quarter. It ended the period with 938,958 shares valued at about $54.3 million.
• Mondelez reported quarterly EPS of $0.78, beating the $0.71 consensus, while revenue of $9.97 billion came in just below estimates and rose 2.3% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $69.30. CEO Dirk Van de Put sold 20,899 shares under a pre-arranged trading plan.

Retirement Systems of Alabama grew its holdings in Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 938,958 shares of the company's stock after buying an additional 68,488 shares during the period. Retirement Systems of Alabama owned 0.07% of Mondelez International worth $54,291,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Miller Global Investments LLC bought a new stake in Mondelez International in the 3rd quarter valued at $26,000. North Point Portfolio Managers Corp OH acquired a new stake in Mondelez International during the 3rd quarter valued at $28,000. Compass Financial Management LLC lifted its holdings in Mondelez International by 79.2% during the 3rd quarter. Compass Financial Management LLC now owns 491 shares of the company's stock valued at $28,000 after purchasing an additional 217 shares during the last quarter. Ballast Advisors LLC acquired a new stake in Mondelez International during the 1st quarter valued at $34,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Mondelez International during the second quarter worth $35,000. 78.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Dirk Van de Put sold 20,899 shares of the firm's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $68.03, for a total value of $1,421,758.97. Following the transaction, the chief executive officer owned 1,326,488 shares in the company, valued at approximately $90,240,978.64. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 392,150 shares of company stock worth $25,893,046. Corporate insiders own 0.45% of the company's stock.

Mondelez International Stock Up 0.6%

Shares of MDLZ opened at $66.44 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.42 and a debt-to-equity ratio of 0.61. Mondelez International, Inc. has a 12 month low of $51.20 and a 12 month high of $68.75. The firm's 50 day moving average is $62.16 and its 200-day moving average is $60.62. The stock has a market capitalization of $84.80 billion, a PE ratio of 20.96, a P/E/G ratio of 2.68 and a beta of 0.34.

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

Wall Street Analyst Weigh In

MDLZ has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mondelez International from $58.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. BNP Paribas Exane raised their target price on shares of Mondelez International from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, October 30th. UBS Group reaffirmed a "neutral" rating and set a $72.00 target price on shares of Mondelez International in a report on Monday, November 2nd. Freedom Broker upgraded shares of Mondelez International from a "hold" rating to a "buy" rating and set a $71.00 price target on the stock in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Mondelez International from $72.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, October 16th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Mondelez International has a consensus rating of "Moderate Buy" and an average target price of $69.30.

About Mondelez International

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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