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

Mondelez International (NASDAQ:MDLZ) had its target price decreased by Piper Sandler from $84.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

MDLZ has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $67.00 in a report on Thursday, December 12th. Redburn Atlantic assumed coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective on the stock. Stifel Nicolaus lifted their target price 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. Citigroup cut their price target on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group decreased their price objective on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Mondelez International currently has an average rating of “Moderate Buy” and an average price target of $74.93.

Mondelez International Stock Up 2.4 %

Shares of NASDAQ MDLZ opened at $58.00 on Thursday. The firm’s 50-day moving average is $61.91 and its two-hundred day moving average is $67.36. The company has a market capitalization of $77.56 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.99 and a beta of 0.54. Mondelez International has a 12-month low of $55.97 and a 12-month high of $77.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share 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 company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. During the same quarter last year, the business posted $0.82 earnings per share. Mondelez International’s revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Mondelez International will post 3.48 EPS for the current fiscal year.

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

Mondelez International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Investors Weigh In On Mondelez International

Hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. lifted its position in shares of Mondelez International by 8.8% during the second quarter. Edgestream Partners L.P. now owns 41,878 shares of the company’s stock worth $2,740,000 after purchasing an additional 3,373 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Mondelez International by 4.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,848 shares of the company’s stock worth $906,000 after buying an additional 596 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Mondelez International by 9.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 134,317 shares of the company’s stock worth $8,790,000 after buying an additional 11,234 shares in the last quarter. Tredje AP fonden boosted its position in Mondelez International by 13.1% in the 2nd quarter. Tredje AP fonden now owns 112,000 shares of the company’s stock valued at $7,329,000 after buying an additional 13,000 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Mondelez International by 13.6% during the second quarter. Blair William & Co. IL now owns 293,460 shares of the company’s stock valued at $19,204,000 after acquiring an additional 35,108 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.