Wells Fargo & Company Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $54.00

Mondelez International (NASDAQ:MDLZ) had its price objective reduced by Wells Fargo & Company from $61.00 to $54.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also commented on MDLZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Mondelez International in a research report on Thursday, January 30th. Redburn Atlantic assumed coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target for the company. Piper Sandler lowered Mondelez International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $70.00 to $63.00 in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their target price on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their price target on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.72.

Mondelez International Stock Performance

MDLZ opened at $58.45 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $59.47 and its two-hundred day moving average price is $66.41. The firm has a market capitalization of $78.16 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54. Mondelez International has a 12-month low of $53.95 and a 12-month high of $76.06.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. On average, equities analysts forecast that Mondelez International will post 3.44 earnings per share for the current year.

Mondelez International declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Mondelez International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.22%. Mondelez International’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Investors Weigh In On Mondelez International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDLZ. Truvestments Capital LLC bought a new position in Mondelez International in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Mondelez International during the third quarter worth $27,000. Richardson Financial Services Inc. lifted its stake in shares of Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Marshall Investment Management LLC bought a new position in Mondelez International in the fourth quarter valued at about $26,000. Finally, Hager Investment Management Services LLC bought a new position in Mondelez International in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

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.