ABN AMRO Bank N.V. has made a significant investment of approximately $3.06 million in Mondelez International, Inc. (NASDAQ:MDLZ) during the second quarter of 2023. According to the bank’s recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC), the investment involved the purchase of 45,122 shares of the snack and beverage giant.
The move reflects a growing interest in Mondelez International among institutional investors. Several hedge funds have recently adjusted their positions in the company. For example, Rossby Financial LCC increased its holdings by an impressive 966.7%, acquiring an additional 406 shares to bring its total to 448 shares, valued at approximately $30,000. Similarly, Aspect Partners LLC boosted its stake by 180.5%, now owning 474 shares worth around $32,000.
Other notable investments include Financial Connections Group Inc., which purchased a new position valued at approximately $33,000, and the Saudi Central Bank, which entered the market with a new position in the first quarter worth about $36,000. Hedge funds and institutional investors collectively own 78.32% of Mondelez International’s stock.
Analysts have been actively monitoring Mondelez International’s stock performance, resulting in varied assessments. On October 29, 2023, Wells Fargo & Company adjusted its target price for the shares from $74.00 to $72.00, maintaining an “overweight” rating. Conversely, DZ Bank upgraded its rating from “sell” to “buy” on the same day, while Wall Street Zen shifted its stance from “hold” to “sell.” Dbs Bank also upgraded Mondelez from a “hold” to a “moderate buy” rating.
As of now, a total of fourteen analysts have issued a “buy” rating for Mondelez International, with seven assigning a “hold” rating and one issuing a “sell” rating. Based on data from MarketBeat.com, the company holds an average rating of “Moderate Buy” and an average target price of $68.37.
Recent Financial Performance
Mondelez International’s stock opened at $55.75 on [date]. The company’s 50-day moving average stands at $60.33, while the 200-day moving average is at $63.83. Over the past year, the stock has seen a low of $53.95 and a high of $71.15. The firm currently holds a market capitalization of $71.94 billion with a P/E ratio of 20.88.
The company last reported its earnings on April 11, 2023, revealing earnings per share (EPS) of $0.66 for the quarter. Mondelez International achieved a return on equity of 14.16% and a net margin of 9.38%, generating revenues of $7.30 billion for the quarter. Analysts anticipate the company will post earnings per share of $2.90 for the current year.
Overview of Mondelez International
Mondelez International, through its subsidiaries, is a global leader in the manufacturing and marketing of snack foods and beverages. Its diverse product range includes biscuits, chocolates, gums, and various grocery items, catering to markets across Latin America, North America, Asia, the Middle East, Africa, and Europe. As the company continues to explore growth opportunities, the recent investment by ABN AMRO Bank and the adjustments made by other investors indicate a strong belief in Mondelez’s potential for future success.
For those interested in tracking further developments, additional information on hedge fund positions and insider trades for Mondelez International can be accessed via HoldingsChannel.com.