Mondelez International (NASDAQ:MDLZ) Downgraded to Neutral Rating by Piper Sandler

Piper Sandler lowered shares of Mondelez International (NASDAQ:MDLZ) from an overweight rating to a neutral rating in a research note released on Friday, MarketBeat Ratings reports. Piper Sandler currently has $63.00 price objective on the stock, down from their prior price objective of $70.00.

MDLZ has been the topic of several other reports. Jefferies Financial Group cut Mondelez International from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $62.00 in a research report on Tuesday, January 21st. Wells Fargo & Company reaffirmed 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research report on Wednesday, January 22nd. UBS Group reduced their price target on Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Redburn Atlantic started 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. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.76.

Mondelez International Trading Down 0.7 %

NASDAQ:MDLZ opened at $57.99 on Friday. The company has a fifty day moving average of $60.09 and a 200 day moving average of $66.67. Mondelez International has a 52 week low of $55.97 and a 52 week high of $77.20. The firm has a market capitalization of $77.54 billion, a P/E ratio of 20.56, a P/E/G ratio of 3.05 and a beta of 0.54. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share 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 firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts predict that Mondelez International will post 3.44 earnings per share for the current year.

Mondelez International Dividend Announcement

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

Mondelez International declared that its board has authorized a share 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 purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Mondelez International in the 3rd quarter worth $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Mondelez International in the third quarter worth about $27,000. Hager Investment Management Services LLC bought a new position in Mondelez International during the fourth quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its stake in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Mondelez International during the 4th quarter valued at approximately $32,000. Institutional investors 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.