5 Best Sugar Stocks to Buy Now

2. Mondelez International Inc. (NASDAQ:MDLZ)

Hedge Fund Holdings: 52 

Based in Chicago, Illinois, Mondelez International Inc. (NASDAQ:MDLZ) is an American multinational holding company which focuses on the production and distribution of a wide variety of confectionary, food, beverage and snacks. Investor interest around Mondelez International Inc. (NASDAQ:MDLZ) skyrocketed in the third quarter of 2022, with 52 hedge funds having stakes in the company. This was up from 48 funds in the preceding quarter. The company beat EPS estimates of $0.69 by $0.05 in Q3 2022, posting earnings of $0.74 per share.

On December 6, Deutsche Bank analyst Steve Powers raised the price target on Mondelez International Inc. (NASDAQ:MDLZ) to $75 from $72, keeping a Buy rating on the shares. The analyst contends that although the company’s data points are subpar at best, there have been a number of positive developments for the market over the past several weeks, including lower than expected inflation in November, the Federal Reserve signaling a move to a more deliberate pace of hikes, and a move away from the disastrous COVID policy in China. Powers ascertains that although the macroeconomic climate is likely to remain volatile for some time, Mondelez International Inc. (NASDAQ:MDLZ) is well-positioned to resist the headwinds.

Here is what Coho Partners had to say about Mondelez International Inc. (NASDAQ:MDLZ) in their Q3 2022 investor letter:

“Analysts’ bottom-up estimates for both 2022 and 2023 for the S&P 500 Index are beginning to decline. Coho is not immune to the earnings pressure exerted by a strong USD, although the portfolio on the whole has modestly less foreign revenue exposure relative to the S&P 500 Index. The two most impacted Coho stocks includes Mondelez (NASDAQ:MDLZ), which gets about 75% of its revenues outside the U.S.”