Royal Bank of Canada Raises Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Royal Bank of Canada grew its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,592,102 shares of the company’s stock after purchasing an additional 242,056 shares during the quarter. Royal Bank of Canada’s holdings in Mondelez International were worth $274,288,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ICICI Prudential Asset Management Co Ltd boosted its holdings in Mondelez International by 430.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company’s stock valued at $5,520,000 after acquiring an additional 74,975 shares during the last quarter. Buckingham Capital Management Inc. boosted its holdings in Mondelez International by 25.5% in the fourth quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company’s stock valued at $5,578,000 after acquiring an additional 18,961 shares during the last quarter. Kennedy Investment Group acquired a new position in Mondelez International in the fourth quarter valued at $313,000. Rhumbline Advisers boosted its holdings in Mondelez International by 1.4% in the fourth quarter. Rhumbline Advisers now owns 2,742,126 shares of the company’s stock valued at $163,787,000 after acquiring an additional 37,897 shares during the last quarter. Finally, Amundi boosted its holdings in Mondelez International by 20.1% in the fourth quarter. Amundi now owns 2,856,534 shares of the company’s stock valued at $166,507,000 after acquiring an additional 478,225 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MDLZ. Dbs Bank cut Mondelez International from a “strong-buy” rating to a “hold” rating in a report on Friday, February 7th. DZ Bank lowered Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research report on Friday, February 7th. UBS Group raised their price objective on Mondelez International from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Piper Sandler raised their price objective on Mondelez International from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley raised their price objective on Mondelez International from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.55.

Mondelez International Stock Up 0.3%

Shares of NASDAQ MDLZ opened at $65.32 on Friday. Mondelez International, Inc. has a 1 year low of $53.95 and a 1 year high of $76.06. The firm has a market cap of $84.58 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 4.34 and a beta of 0.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s 50-day simple moving average is $66.15 and its 200-day simple moving average is $63.37.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter, compared to the consensus estimate of $9.37 billion. Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. As a group, equities analysts anticipate that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

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.