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

Mondelez International (NASDAQ:MDLZ) had its price objective reduced by The Goldman Sachs Group from $79.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.08% from the stock’s current price.

MDLZ has been the subject of several other research reports. 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 for the company. Bank of America upped their price objective on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut Mondelez International from a “buy” rating to a “hold” rating and cut their target price for the stock from $78.00 to $67.00 in a research report on Thursday, December 12th. Wells Fargo & Company reissued an “equal weight” rating and issued a $61.00 target price (down from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.79.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $56.16 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The company has a market cap of $75.10 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The stock’s 50-day moving average is $62.34 and its two-hundred day moving average is $67.50. Mondelez International has a 1-year low of $55.97 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the prior year, the firm posted $0.82 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts forecast that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International announced that its board has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Mondelez International

A number of large investors have recently modified their holdings of MDLZ. Truvestments Capital LLC bought a new stake in shares of Mondelez International in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new position in Mondelez International in the 3rd quarter worth about $27,000. Richardson Financial Services Inc. increased its holdings in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of Mondelez International in the third quarter worth about $38,000. Finally, Hara Capital LLC acquired a new stake in shares of Mondelez International in the third quarter worth $45,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

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.