Commerce Bank Reduces Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Commerce Bank reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,720,902 shares of the company’s stock after selling 2,682 shares during the quarter. Mondelez International makes up about 0.8% of Commerce Bank’s holdings, making the stock its 27th largest position. Commerce Bank owned about 0.13% of Mondelez International worth $126,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Mondelez International in the second quarter worth about $26,000. Lynx Investment Advisory bought a new stake in Mondelez International during the 2nd quarter valued at $27,000. Prospera Private Wealth LLC bought a new position in shares of Mondelez International in the third quarter valued at approximately $27,000. Richardson Financial Services Inc. grew its stake in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Mondelez International during the 2nd quarter worth approximately $29,000. 78.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI boosted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. DA Davidson lowered their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup reduced their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Mondelez International has a consensus rating of “Moderate Buy” and an average target price of $80.31.

Mondelez International Stock Performance

Shares of Mondelez International stock opened at $63.87 on Wednesday. The business has a fifty day simple moving average of $70.65 and a two-hundred day simple moving average of $69.45. The firm has a market capitalization of $85.41 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.91 and a beta of 0.55. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. Mondelez International, Inc. has a 12 month low of $63.40 and a 12 month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Mondelez International, Inc. will post 3.48 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.