PNC Financial Services Group Inc. Grows Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

PNC Financial Services Group Inc. lifted its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,158,395 shares of the company’s stock after purchasing an additional 12,431 shares during the period. PNC Financial Services Group Inc.’s holdings in Mondelez International were worth $159,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of Mondelez International by 7.3% during the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock worth $2,274,792,000 after purchasing an additional 2,206,023 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Mondelez International by 40.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after acquiring an additional 4,794,746 shares during the period. Mizuho Securities USA LLC increased its position in Mondelez International by 12,057.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after acquiring an additional 12,470,573 shares during the period. Legal & General Group Plc increased its position in Mondelez International by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock valued at $749,467,000 after acquiring an additional 293,773 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Mondelez International by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock valued at $587,094,000 after acquiring an additional 1,071,719 shares during the period. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of MDLZ stock opened at $63.87 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. Mondelez International, Inc. has a one year low of $63.40 and a one year high of $77.20. The company’s 50-day simple moving average is $70.65 and its 200-day simple moving average is $69.45. The stock has a market capitalization of $85.41 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.91 and a beta of 0.55.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $9.11 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDLZ has been the topic of several recent research reports. DA Davidson dropped their price target on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler increased their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their price target on Mondelez International from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Citigroup lowered their price target on Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group assumed coverage on Mondelez International in a report on Monday, August 12th. They issued a “buy” rating and a $80.00 price target for the company. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.