Piper Sandler Issues Pessimistic Forecast for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price target reduced by equities researchers at Piper Sandler from $84.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 23.35% from the company’s previous close.

Other equities analysts have also issued reports about the stock. 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 on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $61.00 price target (down from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup dropped their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Evercore ISI lifted their price target on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.79.

Mondelez International Price Performance

Shares of MDLZ traded up $0.11 during mid-day trading on Thursday, hitting $56.75. 1,915,579 shares of the company were exchanged, compared to its average volume of 9,174,692. The stock has a market cap of $75.89 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.99 and a beta of 0.54. Mondelez International has a 1-year low of $55.97 and a 1-year high of $77.20. The company has a 50 day moving average of $62.11 and a 200-day moving average of $67.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. Analysts expect that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International announced that its board has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Mondelez International

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new stake in shares of Mondelez International in the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Mondelez International in the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. lifted its holdings in shares of Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of Mondelez International in the third quarter valued at approximately $38,000. Finally, Hara Capital LLC acquired a new position in Mondelez International during the third quarter worth $45,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

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.