Mondelez International’s (MDLZ) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Mondelez International (NASDAQ:MDLZ) in a research report released on Tuesday, Marketbeat reports. The firm currently has a $61.00 target price on the stock, down from their prior target price of $74.00.

A number of other research firms have also commented on MDLZ. Piper Sandler lifted their price objective on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price target on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Citigroup lowered their price objective on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Redburn Atlantic began coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $78.00 to $67.00 in a research report on Thursday, December 12th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.64.

Mondelez International Stock Performance

MDLZ opened at $58.29 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The company has a market cap of $77.95 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The stock has a 50-day moving average of $62.83 and a 200-day moving average of $67.65. Mondelez International has a 52-week low of $57.67 and a 52-week high of $77.20.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.14. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. Mondelez International’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. As a group, equities research analysts forecast that Mondelez International will post 3.48 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Mondelez International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.23%. Mondelez International’s payout ratio is presently 66.67%.

Hedge Funds Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Mondelez International in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new position in Mondelez International in the 3rd quarter valued at $27,000. Richardson Financial Services Inc. raised its position in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in Mondelez International in the third quarter worth $38,000. Finally, Hara Capital LLC bought a new stake in shares of Mondelez International during the third quarter worth $45,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

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.