Mondelez International, Inc. (NASDAQ:MDLZ) Receives $78.61 Average Price Target from Brokerages

Mondelez International, Inc. (NASDAQ:MDLZ) has been given an average recommendation of “Buy” by the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. Eighteen investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $78.61.

A number of brokerages have recently commented on MDLZ. Bank of America cut their price target on shares of Mondelez International from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. The Goldman Sachs Group began coverage on shares of Mondelez International in a report on Monday, August 12th. They set a “buy” rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Mondelez International from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company cut their price target on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Finally, Piper Sandler lowered their target price on shares of Mondelez International from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, August 9th.

Mondelez International Stock Performance

NASDAQ MDLZ opened at $75.31 on Friday. Mondelez International has a 1 year low of $60.75 and a 1 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 firm has a market capitalization of $101.02 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 2.90 and a beta of 0.54. The firm’s 50 day simple moving average is $68.84 and its 200 day simple moving average is $69.28.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The firm had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, research analysts expect that Mondelez International will post 3.5 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, September 30th. This is an increase from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 2.50%. Mondelez International’s payout ratio is presently 59.68%.

Institutional Investors Weigh In On Mondelez International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Mondelez International in the fourth quarter valued at about $1,231,413,000. Vanguard Group Inc. boosted its stake in shares of Mondelez International by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after purchasing an additional 6,696,897 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Mondelez International by 26.9% in the 4th quarter. Capital Research Global Investors now owns 30,291,001 shares of the company’s stock valued at $2,193,977,000 after purchasing an additional 6,426,928 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Mondelez International by 40.2% in 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. Finally, First Trust Advisors LP boosted its stake in shares of Mondelez International by 152.3% in the 4th quarter. First Trust Advisors LP now owns 4,114,581 shares of the company’s stock valued at $298,019,000 after purchasing an additional 2,483,972 shares in the last quarter. 78.32% of the stock is 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.