Mondelez International (NASDAQ:MDLZ) Shares Gap Up – Should You Buy?

Mondelez International, Inc. (NASDAQ:MDLZ)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $61.75, but opened at $64.10. Mondelez International shares last traded at $63.60, with a volume of 1,360,162 shares.

Analyst Upgrades and Downgrades

MDLZ has been the topic of a number of recent analyst reports. Bank of America increased their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Citigroup reduced their target price on Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Piper Sandler raised their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Redburn Atlantic began coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.07.

Mondelez International Stock Down 0.8 %

The firm has a market cap of $83.75 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.85 and a beta of 0.53. The firm has a 50 day moving average price of $67.18 and a 200-day moving average price of $68.68. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

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 firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. Mondelez International’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. On average, equities analysts forecast that Mondelez International, Inc. will post 3.48 EPS for the current year.

Mondelez International announced that its board has approved a share 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 buy up to 10.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Axiom Advisory LLC boosted its stake in shares of Mondelez International by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock worth $643,000 after purchasing an additional 143 shares during the last quarter. Sachetta LLC grew its stake in Mondelez International by 14.0% in the 2nd quarter. Sachetta LLC now owns 1,215 shares of the company’s stock worth $81,000 after acquiring an additional 149 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Mondelez International by 16.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock worth $78,000 after acquiring an additional 150 shares during the period. Carnegie Investment Counsel lifted its stake 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 period. Finally, Pure Financial Advisors LLC boosted its holdings in shares of Mondelez International by 4.1% during the second quarter. Pure Financial Advisors LLC now owns 3,853 shares of the company’s stock worth $252,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

About Mondelez International

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.