Bank of America Raises Mondelez International (NASDAQ:MDLZ) Price Target to $84.00

Mondelez International (NASDAQ:MDLZ) had its price objective increased by Bank of America from $80.00 to $84.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on MDLZ. Evercore ISI boosted their price target on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Citigroup boosted their price target on Mondelez International from $79.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. DA Davidson cut their price target on Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barclays cut their price target on Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Mondelez International has a consensus rating of “Moderate Buy” and an average target price of $78.88.

Mondelez International Trading Down 1.1 %

Shares of Mondelez International stock opened at $71.12 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.50. Mondelez International has a 1 year low of $63.66 and a 1 year high of $77.20. The company has a market capitalization of $95.40 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.87 and a beta of 0.54. The business has a 50 day moving average price of $72.49 and a 200 day moving average price of $69.59.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. The firm had revenue of $8.34 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the firm posted $0.76 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Mondelez International will post 3.5 EPS for the current fiscal year.

Mondelez International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, September 30th. Mondelez International’s dividend payout ratio is presently 59.68%.

Hedge Funds Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Mondelez International by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after buying an additional 6,696,897 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Mondelez International by 7.3% in the 1st quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after purchasing an additional 2,206,023 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Mondelez International by 40.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after purchasing an additional 4,794,746 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Mondelez International by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock valued at $749,467,000 after purchasing an additional 293,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mondelez International by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock valued at $587,094,000 after purchasing an additional 1,071,719 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

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.