Wells Fargo & Company Reiterates Equal Weight Rating for Mondelez International (NASDAQ:MDLZ)

Wells Fargo & Company reiterated their equal weight rating on shares of Mondelez International (NASDAQ:MDLZ) in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $61.00 price target on the stock, down from their prior price target of $74.00.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Mondelez International from a “buy” rating to a “hold” rating and decreased their target price for the stock from $78.00 to $67.00 in a research report on Thursday, December 12th. Piper Sandler raised their price target on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup reduced their price objective 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. Bank of America lifted their price target on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus raised their target price on Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.14.

Mondelez International Trading Up 0.1 %

Shares of NASDAQ MDLZ opened at $58.29 on Tuesday. Mondelez International has a 12-month low of $57.81 and a 12-month high of $77.20. The company has a market cap of $77.95 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $63.27 and its 200 day simple moving average is $67.78.

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

Mondelez International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Mondelez International Dividend Announcement

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

Hedge Funds Weigh In On Mondelez International

Institutional investors have recently modified their holdings of the company. Axiom Advisory LLC grew its stake in Mondelez International by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock valued at $643,000 after buying an additional 143 shares during the last quarter. Sachetta LLC grew its position in shares of Mondelez International by 14.0% in the second quarter. Sachetta LLC now owns 1,215 shares of the company’s stock valued at $81,000 after purchasing an additional 149 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock worth $78,000 after purchasing an additional 150 shares during the period. Carnegie Investment Counsel lifted its position in shares of Mondelez International by 1.4% during the 3rd quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock worth $811,000 after purchasing an additional 151 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in Mondelez International by 1.3% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 12,130 shares of the company’s stock valued at $894,000 after purchasing an additional 156 shares during the period. 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.