Kentucky Retirement Systems Cuts Stock Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Kentucky Retirement Systems lessened its holdings in Mondelez International, Inc. (NASDAQ:MDLZ) by 7.9% during the third quarter, Holdings Channel.com reports. The firm owned 93,059 shares of the company’s stock after selling 8,021 shares during the quarter. Kentucky Retirement Systems’ holdings in Mondelez International were worth $6,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 buying an additional 4,794,746 shares during the period. Capital Research Global Investors lifted its holdings in Mondelez International by 7.3% in the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after acquiring an additional 2,206,023 shares during the period. Wulff Hansen & CO. boosted its position in shares of Mondelez International by 6,311.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,750,847 shares of the company’s stock worth $114,575,000 after purchasing an additional 1,723,537 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Mondelez International by 231.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,804,722 shares of the company’s stock worth $118,101,000 after purchasing an additional 1,260,124 shares during the period. Finally, Swedbank AB purchased a new position in shares of Mondelez International in the 1st quarter valued at about $75,514,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MDLZ has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective on the stock. Citigroup lowered their price target on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays decreased their target price on Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, The Goldman Sachs Group initiated coverage on Mondelez International in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $64.49 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $71.11 and a 200 day moving average price of $69.56. The firm has a market capitalization of $86.24 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.98 and a beta of 0.55. Mondelez International, Inc. has a 12-month low of $63.91 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 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Research analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current fiscal year.

Mondelez International Profile

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.