Mondelez International (NASDAQ:MDLZ) Given New $59.00 Price Target at Piper Sandler

Mondelez International (NASDAQ:MDLZ) had its price target lifted by Piper Sandler from $56.00 to $59.00 in a research report report published on Thursday, MarketBeat reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently issued reports on MDLZ. Citigroup reduced their target price on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their price objective on Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley started coverage on Mondelez International in a research report on Monday. They issued an “overweight” rating and a $69.00 target price on the stock. Mizuho raised their price target on shares of Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group dropped their price objective on shares of Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued 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 price target of $69.50.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $67.50 on Thursday. Mondelez International has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $87.31 billion, a PE ratio of 19.74, a P/E/G ratio of 4.34 and a beta of 0.50. The business has a 50-day simple moving average of $62.06 and a two-hundred day simple moving average of $64.94.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. As a group, equities analysts expect that Mondelez International will post 2.9 EPS for the current fiscal year.

Mondelez International declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.79%. Mondelez International’s dividend payout ratio is currently 54.97%.

Institutional Investors Weigh In On Mondelez International

Large investors have recently bought and sold shares of the company. United Bank raised its stake in Mondelez International by 12.7% in the 3rd quarter. United Bank now owns 22,649 shares of the company’s stock valued at $1,669,000 after purchasing an additional 2,549 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Mondelez International by 82.7% during the third quarter. Larson Financial Group LLC now owns 2,811 shares of the company’s stock worth $207,000 after buying an additional 1,272 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Mondelez International in the third quarter valued at about $25,000. Cadence Bank lifted its stake in shares of Mondelez International by 4.1% in the third quarter. Cadence Bank now owns 11,799 shares of the company’s stock worth $869,000 after buying an additional 461 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in Mondelez International by 213.9% during the third quarter. Townsquare Capital LLC now owns 92,279 shares of the company’s stock worth $6,798,000 after acquiring an additional 62,877 shares during the last quarter. 78.32% of the stock is currently 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.