Mondelez International (NASDAQ:MDLZ) Price Target Cut to $70.00 by Analysts at Piper Sandler

Mondelez International (NASDAQ:MDLZ) had its price target lowered by equities researchers at Piper Sandler from $84.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 20.98% from the company’s current price.

MDLZ has been the topic of several other research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $61.00 target price (down previously from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Stifel Nicolaus increased their price objective on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America boosted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI increased their price target on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group reduced their price objective on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and an average target price of $74.93.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $57.86 on Thursday. The stock has a fifty day moving average price of $61.76 and a 200 day moving average price of $67.30. Mondelez International has a 1-year low of $55.97 and a 1-year high of $77.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The company has a market cap of $77.37 billion, a PE ratio of 20.52, a P/E/G ratio of 2.99 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.82 EPS. Sell-side analysts forecast that Mondelez International will post 3.48 EPS for the current year.

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

Institutional Investors Weigh In On Mondelez International

Several hedge funds have recently modified their holdings of MDLZ. State Street Corp lifted its stake in shares of Mondelez International by 3.2% during the third quarter. State Street Corp now owns 60,151,987 shares of the company’s stock valued at $4,459,239,000 after buying an additional 1,851,247 shares during the period. Geode Capital Management LLC raised its holdings in Mondelez International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after acquiring an additional 341,203 shares during the last quarter. FMR LLC lifted its stake in shares of Mondelez International by 14.2% during the 3rd quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after purchasing an additional 2,268,639 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Mondelez International by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock worth $1,268,242,000 after purchasing an additional 489,068 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its position in shares of Mondelez International by 12,057.4% in the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after purchasing an additional 12,470,573 shares during the period. 78.32% of the stock is owned by institutional investors and hedge funds.

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.