Retirement Systems of Alabama Sells 57,471 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Retirement Systems of Alabama decreased its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,275 shares of the company’s stock after selling 57,471 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Mondelez International worth $62,492,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Mondelez International during the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International during the third quarter worth about $27,000. Richardson Financial Services Inc. increased its holdings in shares of Mondelez International by 100.0% during 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. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Mondelez International in the 2nd quarter worth approximately $29,000. Finally, Highline Wealth Partners LLC bought a new stake in Mondelez International during the 3rd quarter worth approximately $38,000. 78.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MDLZ shares. Redburn Atlantic assumed coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler increased their price objective on shares of Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted 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. Citigroup decreased their price target on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Evercore ISI upped their price objective on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.07.

Mondelez International Stock Performance

Shares of MDLZ stock traded down $0.25 during midday trading on Friday, hitting $62.38. 303,785 shares of the company were exchanged, compared to its average volume of 6,881,698. Mondelez International, Inc. has a 52 week low of $60.33 and a 52 week high of $77.20. The firm’s 50 day moving average price is $67.18 and its two-hundred day moving average price is $68.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The firm has a market capitalization of $83.41 billion, a P/E ratio of 22.21, a PEG ratio of 2.85 and a beta of 0.53.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.85 by $0.14. The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. Mondelez International’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, equities research analysts anticipate that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International declared that its board has approved a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.