Mondelez International (NASDAQ:MDLZ) Earns Outperform Rating from Royal Bank of Canada

Mondelez International (NASDAQ:MDLZ)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $75.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 29.33% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price target on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Bank of America upped their price target on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Redburn Atlantic assumed coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Finally, Citigroup cut their price target on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.76.

Mondelez International Trading Down 0.7 %

Shares of MDLZ opened at $57.99 on Thursday. The firm has a market cap of $77.54 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.54. Mondelez International has a fifty-two week low of $55.97 and a fifty-two week high of $77.20. 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 business has a 50-day moving average of $60.22 and a 200 day moving average of $66.71.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 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 for the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the prior year, the company posted $0.82 EPS. Mondelez International’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that Mondelez International will post 3.44 EPS for the current year.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MDLZ. State Street Corp grew its holdings in Mondelez International by 3.2% in the 3rd quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after acquiring an additional 1,851,247 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mondelez International by 1.2% during the third quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock worth $2,069,906,000 after purchasing an additional 341,203 shares during the period. FMR LLC grew its stake in shares of Mondelez International by 14.2% in the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after purchasing an additional 2,268,639 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Mondelez International by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock valued at $1,268,242,000 after purchasing an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC raised its position in Mondelez International by 12,057.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after purchasing an additional 12,470,573 shares during the last quarter. 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.