Mondelez International (NASDAQ:MDLZ) Price Target Cut to $78.00 by Analysts at Wells Fargo & Company

Mondelez International (NASDAQ:MDLZ) had its price target cut by research analysts at Wells Fargo & Company from $82.00 to $78.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 12.47% from the company’s current price.

MDLZ has been the topic of a number of other reports. DA Davidson decreased their target price on Mondelez International from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Evercore ISI increased their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective for the company. Finally, Piper Sandler decreased their price target on Mondelez International from $76.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mondelez International currently has an average rating of “Moderate Buy” and an average target price of $79.47.

Mondelez International Stock Up 0.3 %

Shares of Mondelez International stock traded up $0.20 on Wednesday, reaching $69.35. 3,176,101 shares of the company were exchanged, compared to its average volume of 6,748,894. Mondelez International has a one year low of $64.18 and a one year high of $77.20. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $72.47 and a 200 day moving average of $69.75. The company has a market capitalization of $92.64 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.98 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. The firm had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. On average, equities research analysts forecast that Mondelez International will post 3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Mondelez International by 5.4% in the first 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 period. Capital Research Global Investors lifted 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 during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Mondelez International by 40.2% during 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 grew its stake in Mondelez International by 2.6% during the second quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock worth $749,467,000 after purchasing an additional 293,773 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Mondelez International by 13.6% during the second quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock worth $587,094,000 after purchasing an additional 1,071,719 shares during the period. Institutional investors and hedge funds 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.