Mondelez International (NASDAQ:MDLZ) Given “Equal Weight” Rating at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Mondelez International (NASDAQ:MDLZ) in a report released on Tuesday morning, MarketBeat reports. The brokerage currently has a $61.00 price target on the stock, down from their previous price target of $74.00.

Several other research firms have also weighed in on MDLZ. Redburn Atlantic began coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Mondelez International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $78.00 to $67.00 in a research note on Thursday, December 12th. Stifel Nicolaus raised their target price on shares of Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America upped their price target on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI boosted their price objective on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.14.

Mondelez International Price Performance

Mondelez International stock opened at $58.29 on Tuesday. 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 company has a market cap of $77.95 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.80 and a beta of 0.54. Mondelez International has a 1 year low of $57.81 and a 1 year high of $77.20. The firm has a 50 day moving average price of $63.27 and a 200 day moving average price of $67.78.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. Sell-side analysts predict that Mondelez International will post 3.48 earnings per share for the current year.

Mondelez International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 annualized dividend and a yield of 3.23%. Mondelez International’s dividend payout ratio is presently 66.67%.

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

Institutional Investors Weigh In On Mondelez International

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

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.