The Vanguard Group, Inc. recently announced the acquisition of new stake in Mondelez International Inc. (NASDAQ:MDLZ). The institutional investor has increased its shareholding in the Consumer Defensive company by 0.01% to 117.92 million shares with purchase of 16012.0 shares. This fresh investment now brings its stake to 8.66% valued currently at $8.38 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 3.93 million to 32.9 million shares. And Geode Capital Management LLC has lifted its position by 1.80% or 0.46 million shares – to 26.25 million shares.
With over 4.0 million Mondelez International Inc. (MDLZ) shares trading Tuesday and a closing price of $71.71 on the day, the dollar volume was approximately $286.5 million. The shares have shown a negative half year performance of -3.00% and its price on 12/26/23 gained nearly 0.70%. Currently, there are 1.37B common shares owned by the public and among those 1.36B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for MDLZ have a consensus price objective of $80.20. The analysts have set the share’s price value over the next 12 months at a high of $89.00 and a low of $69.00. The average price target is 10.59% above its recent price level and a downside to the estimated low will see the stock lose -3.93% over that period. But an upside of 19.43% will see the stock hit the forecast high price target while median target price for the stock is $81.00.
Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 513,793 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 190,802 shares.
The top 3 mutual fund holders in Mondelez International Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 42.64 million shares of the company’s stock, all valued at over $3.03 billion. The company bought an additional 51399.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.16 million shares to see its total holdings expand to 32.85 million shares valued at over $2.33 billion and representing 2.41% of the shares outstanding. Invesco QQQ Trust sold 80256.0 shares to bring its total holdings to over 23.67 million shares at a value of $1.68 billion. Invesco QQQ Trust now owns shares totaling to 1.74% of the shares outstanding.
Shares of Mondelez International Inc. (NASDAQ: MDLZ) opened at $71.20, down -$0.01 from a prior closing price of $71.21. However, the script later moved the day high at 71.89, up 0.70%. The company’s stock has a 5-day price change of 0.91% and 1.62% over the past three months. MDLZ shares are trading 7.59% year to date (YTD), with the 12-month market performance up to 7.46% higher. It has a 12-month low price of $60.75 and touched a high of $78.59 over the same period. MDLZ has an average intraday trading volume of 7.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.80%, 4.11%, and 0.77% respectively.
Institutional ownership of Mondelez International Inc. (NASDAQ: MDLZ) shares accounts for 79.59% of the company’s 1.37B shares outstanding. Mutual fund holders own 33.81%, while other institutional holders and individual stakeholders account for 46.08% and 0.75% respectively.
It has a market capitalization of $97.59B and a beta (3y monthly) value of 0.63. The stock’s trailing 12-month PE ratio is 21.43, while the earnings-per-share (ttm) stands at $3.35. The company has a PEG of 2.39 and a Quick Ratio of 0.41 with the debt-to-equity ratio at 0.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.36% over the week and 1.45% over the month.
Analysts forecast that Mondelez International Inc. (MDLZ) will achieve an EPS of $0.77 for the current quarter, $0.94 for the next quarter and $3.5 for 2024. The lowest estimate earnings-per-share for the quarter is $0.72 while analysts give the company a high EPS estimate of $0.87. Comparatively, EPS for the current quarter was $0.73 a year ago. Earnings per share for the fiscal year are expected to increase by 9.67%, and 8.12% over the next financial year. EPS should grow at an annualized rate of 8.97% over the next five years, compared to 1.21% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Mondelez International Inc. (MDLZ) as a “Strong Buy” at a consensus score of 1.28. Specifically, 20 Wall Street analysts polled rate the stock as a buy, while 2 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MDLZ, a number of firms have released research notes about the stock. DA Davidson stated their Buy rating for the stock in a research note on December 08, 2023, with the firm’s price target at $83.
