Mondelez International (NASDAQ:MDLZ) Given New $69.00 Price Target at Royal Bank of Canada

Mondelez International (NASDAQ:MDLZ) had its target price lowered by Royal Bank of Canada from $75.00 to $69.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on the company. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $63.00 in a research report on Friday, January 31st. The Goldman Sachs Group lowered their target price on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. UBS Group dropped their target price on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus cut their price objective on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Mondelez International presently has an average rating of “Moderate Buy” and a consensus price target of $70.76.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $57.83 on Thursday. 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 firm has a market cap of $77.33 billion, a PE ratio of 20.51, a PEG ratio of 3.12 and a beta of 0.54. Mondelez International has a one year low of $53.95 and a one year high of $76.06. The firm has a fifty day moving average of $59.61 and a 200 day moving average of $66.47.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. As a group, research analysts predict that Mondelez International will post 3.44 EPS for the current fiscal year.

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

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Mondelez International

Several large investors have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. raised its position in Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock valued at $78,000 after purchasing an additional 150 shares during the period. Carnegie Investment Counsel grew its stake in shares of Mondelez International by 1.4% in 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 in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of 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 buying an additional 156 shares during the period. Canopy Partners LLC lifted its stake in Mondelez International by 1.2% during the 3rd quarter. Canopy Partners LLC now owns 13,335 shares of the company’s stock worth $982,000 after acquiring an additional 161 shares in the last quarter. Finally, Hardy Reed LLC boosted its holdings in Mondelez International by 1.4% during the 3rd quarter. Hardy Reed LLC now owns 11,511 shares of the company’s stock valued at $848,000 after acquiring an additional 161 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

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.