Citigroup Lowers Mondelez International (NASDAQ:MDLZ) Price Target to $71.00

Mondelez International (NASDAQ:MDLZ) had its target price cut by equities researchers at Citigroup from $78.00 to $71.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 21.80% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Evercore ISI increased their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Stifel Nicolaus lifted their price target on Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America upped their price objective on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler lifted their target price on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Redburn Atlantic began coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price target for the company. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.64.

Mondelez International Trading Up 0.1 %

Shares of NASDAQ MDLZ opened at $58.29 on Wednesday. Mondelez International has a twelve month low of $57.81 and a twelve month high of $77.20. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $63.27 and a two-hundred day simple moving average of $67.78. The firm has a market cap of $77.95 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $9.11 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that Mondelez International will post 3.48 earnings per share for the current fiscal year.

Mondelez International declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Mondelez International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDLZ. Benjamin Edwards Inc. raised its stake in shares of Mondelez International by 1,904.9% in the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock worth $31,369,000 after purchasing an additional 404,567 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after buying an additional 14,278 shares during the period. Daiwa Securities Group Inc. raised its position in Mondelez International by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company’s stock worth $18,349,000 after buying an additional 25,833 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Mondelez International by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,567,067 shares of the company’s stock valued at $115,446,000 after acquiring an additional 82,742 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Mondelez International by 0.7% during the 3rd quarter. HighTower Advisors LLC now owns 1,354,879 shares of the company’s stock valued at $99,822,000 after acquiring an additional 9,789 shares during the period. Hedge funds and other 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.