5 Blue Chip Stocks to Buy According to Mario Gabelli

4. Mondelez International, Inc. (NASDAQ:MDLZ)

Number of Hedge Fund Holders: 48

Mario Gabelli’s Stake Value: $62,595,000

Percentage of Gabelli’s Portfolio: 0.56%

Stock Price as of June 15: $60.80

Mondelez International, Inc. (NASDAQ:MDLZ) is a Chicago, Illinois-based snack company with a presence in over 150 countries.

On May 19, John Baumgartner at Mizuho picked Mondelez International, Inc. (NASDAQ:MDLZ) as one of the stocks that must be bought following the recent decline. The analyst thinks that Mondelez International, Inc. (NASDAQ:MDLZ) is in a strong position during these uncertain economic circumstances. Baumgartner has given the stock a Buy rating with a price target of $75. This reflects a potential upside of nearly 25% from the last closing price.

During Q1 2022, Mondelez International, Inc. (NASDAQ:MDLZ) posted a significant revenue and EPS beat due to favorable pricing, volume, and margins. The company generates 40% of its sales from developing countries and is in the best position to capitalize on GDP growth.

Of the 912 hedge funds being tracked by Insider Monkey, 48 funds held a stake in Mondelez International, Inc. (NASDAQ:MDLZ) at the end of Q1 2022.