Royal Bank of Canada Lowers Mondelez International (NASDAQ:MDLZ) Price Target to $69.00

Mondelez International (NASDAQ:MDLZ) had its price objective cut by Royal Bank of Canada from $75.00 to $69.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

MDLZ has been the subject of several other research reports. Jefferies Financial Group cut shares of Mondelez International from a “buy” rating to a “hold” rating and lowered their price target for the stock from $75.00 to $62.00 in a report on Tuesday, January 21st. Bank of America boosted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus cut their price target on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a report on Wednesday, January 22nd. Finally, Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $63.00 in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.76.

Mondelez International Trading Up 0.7 %

NASDAQ:MDLZ opened at $57.83 on Thursday. Mondelez International has a 12-month low of $53.95 and a 12-month high of $76.06. The firm has a market cap of $77.33 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.12 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 has a fifty day moving average price of $59.61 and a 200 day moving average price of $66.47.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. Sell-side analysts anticipate that Mondelez International will post 3.44 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.25%. The ex-dividend date was Tuesday, December 31st. Mondelez International’s payout ratio is currently 66.67%.

Institutional Investors Weigh In On Mondelez International

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in Mondelez International by 3.2% during the 3rd quarter. State Street Corp now owns 60,151,987 shares of the company’s stock valued at $4,459,239,000 after acquiring an additional 1,851,247 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Mondelez International by 1.2% in the third quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after purchasing an additional 341,203 shares during the period. FMR LLC raised its stake in shares of Mondelez International by 14.2% during the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after purchasing an additional 2,268,639 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Mondelez International by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock worth $1,268,242,000 after purchasing an additional 489,068 shares during the period. Finally, 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 buying an additional 12,470,573 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.