Cim Investment Management Inc. Has $347,000 Holdings in Mondelez International, Inc. (NASDAQ:MDLZ)

Cim Investment Management Inc. trimmed its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 5.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,712 shares of the company’s stock after selling 269 shares during the period. Cim Investment Management Inc.’s holdings in Mondelez International were worth $347,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC boosted its position in Mondelez International by 12,057.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock worth $926,327,000 after acquiring an additional 12,470,573 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Mondelez International by 40.2% during 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 purchasing an additional 4,794,746 shares during the period. Ilex Capital Partners UK LLP purchased a new position in Mondelez International during the third quarter valued at approximately $219,045,000. FMR LLC increased its stake in Mondelez International by 14.2% in the 3rd quarter. FMR LLC now owns 18,255,657 shares of the company’s stock valued at $1,344,894,000 after buying an additional 2,268,639 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Mondelez International in the 3rd quarter worth approximately $159,823,000. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

Shares of MDLZ opened at $62.63 on Friday. The company has a market capitalization of $83.75 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. Mondelez International, Inc. has a one year low of $60.33 and a one year high of $77.20. The company’s fifty day moving average price is $67.18 and its 200 day moving average price is $68.68.

Mondelez International (NASDAQ:MDLZ) last announced its 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 firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on MDLZ. Evercore ISI boosted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Piper Sandler boosted their target price on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price target on Mondelez International from $78.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, December 5th. Redburn Atlantic assumed coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target for the company. Finally, Citigroup dropped their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.07.

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.