Drive Wealth Management LLC Grows Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Drive Wealth Management LLC grew its stake in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 9.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,953 shares of the company’s stock after buying an additional 513 shares during the period. Drive Wealth Management LLC’s holdings in Mondelez International were worth $441,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. boosted its stake in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Mondelez International during the 2nd quarter valued at $26,000. Lynx Investment Advisory purchased a new position in Mondelez International in the 2nd quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Mondelez International in the 2nd quarter worth $29,000. Finally, Highline Wealth Partners LLC bought a new stake in Mondelez International in the third quarter worth $38,000. 78.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MDLZ shares. Bank of America lifted their price objective on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group initiated coverage on Mondelez International in a research note on Monday, August 12th. They set a “buy” rating and a $80.00 price objective for the company. Stifel Nicolaus lifted their target price 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. Redburn Atlantic initiated coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. 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 company presently has an average rating of “Moderate Buy” and an average target price of $80.31.

Mondelez International Stock Performance

Shares of Mondelez International stock opened at $63.84 on Tuesday. The business has a fifty day simple moving average of $70.87 and a two-hundred day simple moving average of $69.49. The firm has a market capitalization of $85.37 billion, a P/E ratio of 22.64, 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 $63.72 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 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 analyst estimates of $9.11 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Mondelez International’s quarterly revenue 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.

Mondelez International Company 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.