Synovus Financial Corp Buys 3,849 Shares of Mondelez International, Inc. (NASDAQ:MDLZ)

Synovus Financial Corp increased its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,299 shares of the company’s stock after buying an additional 3,849 shares during the period. Synovus Financial Corp’s holdings in Mondelez International were worth $12,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. grew its holdings in shares of Mondelez International by 1,904.9% during the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock valued at $31,369,000 after buying an additional 404,567 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after acquiring an additional 14,278 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Mondelez International by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company’s stock valued at $18,349,000 after acquiring an additional 25,833 shares in the last quarter. HighTower Advisors LLC boosted its stake in Mondelez International by 0.7% during the 3rd quarter. HighTower Advisors LLC now owns 1,354,879 shares of the company’s stock valued at $99,822,000 after purchasing an additional 9,789 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in Mondelez International by 51.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 61,531 shares of the company’s stock worth $4,532,000 after purchasing an additional 20,942 shares in the last quarter. 78.32% of the stock is owned by institutional investors.

Mondelez International Trading Down 0.8 %

Shares of MDLZ opened at $62.63 on Friday. The firm has a market cap of $83.75 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. Mondelez International, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $77.20. 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 business has a 50-day moving average of $67.18 and a 200 day moving average of $68.68.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current year.

Mondelez International announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MDLZ shares. Piper Sandler increased their price target on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup lowered their target price on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Redburn Atlantic assumed coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Mondelez International from $78.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $67.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.

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.