Mondelez International (NASDAQ:MDLZ) Price Target Cut to $63.00 by Analysts at UBS Group

Mondelez International (NASDAQ:MDLZ) had its target price decreased by equities research analysts at UBS Group from $76.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 8.58% from the company’s current price.

MDLZ has been the subject of several other reports. Deutsche Bank Aktiengesellschaft downgraded Mondelez International from a “buy” rating to a “hold” rating and reduced their price target for the company from $78.00 to $67.00 in a report on Thursday, December 12th. Piper Sandler decreased their target price on shares of Mondelez International from $84.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI upped their target price on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Wells Fargo & Company reissued an “equal weight” rating and set a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group lowered their price objective on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Four 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 has a consensus rating of “Moderate Buy” and a consensus target price of $74.93.

Mondelez International Stock Up 2.4 %

Shares of MDLZ stock traded up $1.38 during midday trading on Thursday, reaching $58.02. 7,061,766 shares of the stock were exchanged, compared to its average volume of 9,652,850. The firm has a market cap of $77.59 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.99 and a beta of 0.54. 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 company’s 50 day moving average is $62.11 and its two-hundred day moving average is $67.44. Mondelez International has a 1 year low of $55.97 and a 1 year high of $77.20.

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

Mondelez International announced that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Axiom Advisory LLC lifted its holdings in shares of 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. 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 worth $78,000 after purchasing an additional 150 shares during the last quarter. Carnegie Investment Counsel boosted its position in shares of Mondelez International by 1.4% during the third quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after buying an additional 151 shares during the period. SeaCrest Wealth Management LLC grew its position in Mondelez International by 1.3% in 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 last quarter. Finally, Quent Capital LLC increased its stake in Mondelez International by 5.5% in the 3rd quarter. Quent Capital LLC now owns 3,047 shares of the company’s stock worth $225,000 after buying an additional 160 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

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.