Citigroup Issues Pessimistic Forecast for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price target cut by analysts at Citigroup from $78.00 to $71.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 21.80% from the company’s previous close.

MDLZ has been the topic of a number of other reports. Stifel Nicolaus lifted their price target on shares of Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, October 25th. Redburn Atlantic started coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered Mondelez International from a “buy” rating to a “hold” rating and dropped their price target for the company from $78.00 to $67.00 in a research note on Thursday, December 12th. Bank of America lifted their price objective on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $61.00 target price (down from $74.00) on shares of Mondelez International in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International presently has an average rating of “Moderate Buy” and an average target price of $77.64.

Mondelez International Stock Performance

NASDAQ MDLZ opened at $58.29 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. Mondelez International has a twelve month low of $57.81 and a twelve month high of $77.20. The business has a 50-day moving average price of $63.27 and a 200-day moving average price of $67.78. The firm 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.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $9.11 billion. During the same period in the prior year, the company posted $0.82 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts predict that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mizuho Securities USA LLC grew its position in Mondelez International by 12,057.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after acquiring an additional 12,470,573 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Mondelez International by 40.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after purchasing an additional 4,794,746 shares during the period. Ilex Capital Partners UK LLP bought a new position in shares of Mondelez International in the third quarter worth about $219,045,000. FMR LLC increased 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 worth $1,344,894,000 after buying an additional 2,268,639 shares during the period. Finally, Holocene Advisors LP bought a new stake in Mondelez International during the 3rd quarter valued at about $159,823,000. Institutional investors 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.