Summit Global Investments Cuts Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Summit Global Investments trimmed its holdings in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 88.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,989 shares of the company’s stock after selling 45,902 shares during the period. Summit Global Investments’ holdings in Mondelez International were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new position in shares of Mondelez International in the 4th quarter worth about $29,000. Carmel Capital Partners LLC bought a new stake in Mondelez International in the third quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in Mondelez International in the third quarter valued at about $29,000. Orion Capital Management LLC bought a new stake in Mondelez International in the 3rd quarter valued at about $35,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Mondelez International during the third quarter valued at about $56,000. 78.32% of the stock is currently owned by institutional investors.

Mondelez International Price Performance

MDLZ stock opened at $69.89 on Monday. The firm has a 50 day simple moving average of $70.21 and a two-hundred day simple moving average of $71.01. The stock has a market cap of $94.11 billion, a PE ratio of 22.19, a P/E/G ratio of 2.47 and a beta of 0.55. Mondelez International, Inc. has a one year low of $60.75 and a one year high of $78.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.77 and a quick ratio of 0.63.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.16 billion. Mondelez International had a net margin of 11.87% and a return on equity of 16.11%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. On average, analysts predict that Mondelez International, Inc. will post 3.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDLZ has been the topic of several research reports. Citigroup lowered their price target on shares of Mondelez International from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Barclays cut their price target on Mondelez International from $84.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Mondelez International from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Stifel Nicolaus lifted their target price on Mondelez International from $78.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. decreased their price target on Mondelez International from $82.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.75.

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.