The Goldman Sachs Group Issues Pessimistic Forecast for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price target dropped by stock analysts at The Goldman Sachs Group from $68.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 2.65% from the stock’s current price.

Several other analysts also recently commented on MDLZ. Redburn Atlantic initiated coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective on the stock. Barclays reduced their price target on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America upped their price objective on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus reduced their target price on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Royal Bank of Canada lowered their price target on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.72.

Mondelez International Price Performance

MDLZ stock opened at $58.45 on Thursday. 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 firm has a 50 day moving average price of $59.47 and a 200-day moving average price of $66.41. Mondelez International has a 52-week low of $53.95 and a 52-week high of $76.06. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.12 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data 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%. Equities research analysts forecast that Mondelez International will post 3.44 EPS for the current fiscal year.

Mondelez International announced that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Mondelez International

Several institutional investors and hedge funds have recently bought and sold shares of MDLZ. Czech National Bank lifted its position in shares of Mondelez International by 6.5% during the 4th quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after buying an additional 17,815 shares in the last quarter. Legacy Private Trust Co. raised its stake in Mondelez International by 33.2% during the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after acquiring an additional 957 shares during the period. Kennedy Investment Group purchased a new position in Mondelez International during the fourth quarter valued at approximately $313,000. Benjamin Edwards Inc. boosted its position in shares of Mondelez International by 1,904.9% in the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock worth $31,369,000 after purchasing an additional 404,567 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in shares of Mondelez International by 14.3% in the third quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after purchasing an additional 14,278 shares in the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

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.