Pinnacle Associates Ltd. Buys 9,523 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Pinnacle Associates Ltd. grew its stake in Mondelez International, Inc. (NASDAQ:MDLZ) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,896 shares of the company’s stock after acquiring an additional 9,523 shares during the period. Pinnacle Associates Ltd.’s holdings in Mondelez International were worth $8,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Mondelez International by 5.4% in the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after acquiring an additional 6,696,897 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Mondelez International by 7.3% in the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock worth $2,274,792,000 after acquiring an additional 2,206,023 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Mondelez International by 40.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock worth $1,094,557,000 after acquiring an additional 4,794,746 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Mondelez International by 2.6% in the second quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock worth $749,467,000 after acquiring an additional 293,773 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mondelez International by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock worth $587,094,000 after acquiring an additional 1,071,719 shares during the last quarter. 78.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDLZ has been the subject of a number of recent research reports. Evercore ISI boosted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Barclays dropped their price target on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Bank of America boosted their price target on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Citigroup dropped their price target on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Sanford C. Bernstein dropped their price target on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.94.

Mondelez International Stock Up 0.9 %

Mondelez International stock opened at $69.79 on Thursday. The stock has a market capitalization of $93.23 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.98 and a beta of 0.54. Mondelez International, Inc. has a twelve month low of $64.18 and a twelve month high of $77.20. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $72.45 and a 200-day moving average of $69.75.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, equities research analysts anticipate that Mondelez International, Inc. will post 3.49 EPS 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.