Piper Sandler Lowers Mondelez International (NASDAQ:MDLZ) Price Target to $70.00

Mondelez International (NASDAQ:MDLZ) had its target price cut by analysts at Piper Sandler from $84.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 23.35% from the stock’s current price.

MDLZ has been the topic of several other research reports. Evercore ISI upped their price target on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price for the company. Bank of America boosted their price target on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Citigroup lowered their price objective on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus lifted their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.79.

Mondelez International Trading Up 0.2 %

NASDAQ MDLZ traded up $0.11 on Thursday, hitting $56.75. The company’s stock had a trading volume of 1,915,579 shares, compared to its average volume of 9,174,692. The company’s 50-day simple moving average is $62.11 and its 200 day simple moving average is $67.44. 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 firm has a market cap of $75.89 billion, a P/E ratio of 20.12, a PEG ratio of 2.99 and a beta of 0.54. Mondelez International has a 52-week low of $55.97 and a 52-week high of $77.20.

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

Mondelez International announced that its board has approved a stock buyback plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Mondelez International

Hedge funds have recently modified their holdings of the stock. Axiom Advisory LLC raised its stake in Mondelez International by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock worth $643,000 after acquiring an additional 143 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock worth $78,000 after purchasing an additional 150 shares during the last quarter. Carnegie Investment Counsel increased its holdings in Mondelez International by 1.4% in the 3rd quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock worth $811,000 after buying an additional 151 shares during the period. SeaCrest Wealth Management LLC lifted its stake in Mondelez International by 1.3% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 12,130 shares of the company’s stock valued at $894,000 after acquiring an additional 156 shares during the period. Finally, Quent Capital LLC increased its stake in shares of Mondelez International by 5.5% in the third quarter. Quent Capital LLC now owns 3,047 shares of the company’s stock worth $225,000 after acquiring an additional 160 shares during the period. 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.