Wells Fargo & Company Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $78.00

Mondelez International (NASDAQ:MDLZ) had its price target decreased by Wells Fargo & Company from $82.00 to $78.00 in a research report sent to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on MDLZ. The Goldman Sachs Group began coverage on Mondelez International in a report on Monday, August 12th. They issued a “buy” rating and a $80.00 price objective for the company. DA Davidson cut their price objective on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup increased their target price on shares of Mondelez International from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler cut their price target on Mondelez International from $76.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their price target on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.94.

Mondelez International Stock Performance

MDLZ stock traded up $0.03 during trading on Wednesday, reaching $68.51. The company had a trading volume of 6,470,448 shares, compared to its average volume of 6,784,174. The company has a market cap of $91.52 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.96 and a beta of 0.54. Mondelez International has a twelve month low of $64.18 and a twelve month high of $77.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.50 and a current ratio of 0.63. The firm has a 50-day simple moving average of $72.35 and a 200-day simple moving average of $69.76.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. The business 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%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, sell-side analysts expect that Mondelez International will post 3.49 earnings per share for the current year.

Hedge Funds Weigh In On Mondelez International

Institutional investors and hedge funds have recently modified their holdings of the company. Axiom Advisory LLC raised its holdings in Mondelez International by 1.6% during the third quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock worth $643,000 after purchasing an additional 143 shares in the last quarter. Cadence Bank boosted its position in shares of Mondelez International by 1.3% in the 1st quarter. Cadence Bank now owns 11,489 shares of the company’s stock valued at $804,000 after purchasing an additional 148 shares during the period. Evermay Wealth Management LLC grew its stake in Mondelez International by 2.6% during the 1st quarter. Evermay Wealth Management LLC now owns 5,812 shares of the company’s stock worth $409,000 after buying an additional 149 shares during the last quarter. Sachetta LLC increased its position in Mondelez International by 14.0% during the second quarter. Sachetta LLC now owns 1,215 shares of the company’s stock worth $81,000 after buying an additional 149 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake in Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock valued at $78,000 after buying an additional 150 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.