Montecito Bank & Trust Has $651,000 Stock Position in Mondelez International, Inc. (NASDAQ:MDLZ)

Montecito Bank & Trust increased its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ) by 3.8% during the third quarter, Holdings Channel reports. The fund owned 8,838 shares of the company’s stock after acquiring an additional 325 shares during the quarter. Montecito Bank & Trust’s holdings in Mondelez International were worth $651,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MDLZ. Norden Group LLC raised its position in Mondelez International by 39.8% during the first quarter. Norden Group LLC now owns 8,695 shares of the company’s stock valued at $609,000 after buying an additional 2,476 shares during the period. Advisory Services Network LLC increased its holdings in shares of Mondelez International by 35.3% in the 1st quarter. Advisory Services Network LLC now owns 60,401 shares of the company’s stock valued at $4,228,000 after purchasing an additional 15,746 shares during the period. Sciencast Management LP purchased a new stake in shares of Mondelez International in the first quarter worth approximately $456,000. Empowered Funds LLC boosted its holdings in shares of Mondelez International by 72.0% during the first quarter. Empowered Funds LLC now owns 105,278 shares of the company’s stock worth $7,369,000 after purchasing an additional 44,056 shares during the period. Finally, Hilltop National Bank purchased a new position in Mondelez International during the first quarter valued at approximately $182,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $65.72 on Friday. 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’s 50-day moving average is $72.14 and its 200-day moving average is $69.80. Mondelez International, Inc. has a 52-week low of $64.18 and a 52-week high of $77.20. The company has a market cap of $87.79 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 2.94 and a beta of 0.55.

Mondelez International (NASDAQ:MDLZ) last announced 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 during the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts anticipate that Mondelez International, Inc. will post 3.49 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDLZ shares. Bank of America lifted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Barclays reduced their price objective on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. The Goldman Sachs Group began coverage on Mondelez International in a research note on Monday, August 12th. They set a “buy” rating and a $80.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Mondelez International from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler raised their price objective on shares of Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Mondelez International has a consensus rating of “Moderate Buy” and a consensus target price of $80.31.

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.