Mondelez International (NASDAQ:MDLZ) Hits New 52-Week Low – Here’s What Happened

Mondelez International, Inc. (NASDAQ:MDLZ)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $58.71 and last traded at $58.74, with a volume of 3731612 shares traded. The stock had previously closed at $59.86.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDLZ. Evercore ISI upped their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Redburn Atlantic started coverage on Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Wells Fargo & Company lowered their target price on Mondelez International from $78.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft cut Mondelez International from a “buy” rating to a “hold” rating and cut their price target for the stock from $78.00 to $67.00 in a report on Thursday, December 12th. Finally, Citigroup decreased their price target on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.07.

Mondelez International Stock Performance

The stock has a market cap of $77.85 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. 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 company’s 50 day simple moving average is $63.71 and its 200 day simple moving average is $67.89.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 3.23%. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

Mondelez International declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Mondelez International

A number of hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in Mondelez International by 3.2% in the third quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after buying an additional 1,851,247 shares during the last quarter. Geode Capital Management LLC increased its holdings in Mondelez International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock worth $2,069,906,000 after acquiring an additional 341,203 shares during the last quarter. FMR LLC grew 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Mondelez International by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock valued at $1,268,242,000 after acquiring an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC lifted its position in shares of Mondelez International by 12,057.4% during the third 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 in the last quarter. Institutional investors own 78.32% of the company’s stock.

Mondelez International Company 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.