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

Wells Fargo & Company reissued their equal weight rating on shares of Mondelez International (NASDAQ:MDLZ) in a report published on Tuesday, MarketBeat.com reports. Wells Fargo & Company currently has a $61.00 price objective on the stock, down from their previous price objective of $74.00.

Several other brokerages have also weighed in on MDLZ. Redburn Atlantic initiated coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Stifel Nicolaus increased their price target on 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 raised their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler upped their price objective on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $78.00 to $67.00 in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Mondelez International currently has an average rating of “Moderate Buy” and an average target price of $77.64.

Mondelez International Price Performance

Shares of MDLZ opened at $58.29 on Tuesday. The business’s fifty day moving average price is $62.83 and its two-hundred day moving average price is $67.65. The firm has a market capitalization 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 52 week low of $57.67 and a 52 week high of $77.20. 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 posted its quarterly earnings results 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. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter last year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Mondelez International will post 3.48 earnings per share for the current year.

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

Mondelez International Announces Dividend

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

Institutional Trading of Mondelez International

A number of institutional investors have recently modified their holdings of MDLZ. Legacy Private Trust Co. raised its position in Mondelez International by 33.2% in the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after buying an additional 957 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of Mondelez International by 1.4% during the 4th quarter. Douglas Lane & Associates LLC now owns 14,130 shares of the company’s stock worth $844,000 after acquiring an additional 198 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Mondelez International by 85.6% in the fourth quarter. Diversified Trust Co now owns 41,574 shares of the company’s stock valued at $2,483,000 after purchasing an additional 19,175 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its position in shares of Mondelez International by 50.5% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 32,565 shares of the company’s stock worth $1,945,000 after purchasing an additional 10,920 shares in the last quarter. Finally, Boltwood Capital Management boosted its holdings in Mondelez International by 3.0% during the fourth quarter. Boltwood Capital Management now owns 13,270 shares of the company’s stock worth $793,000 after purchasing an additional 382 shares during the last quarter. 78.32% of the stock is currently owned by 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.