Zacks Investment Research upgraded shares of Mondelez International (NASDAQ:MDLZ) from a hold rating to a buy rating in a report published on Friday. The firm currently has $48.00 target price on the stock.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. The company's margins have remained constantly strong backed by cost savings and productivity gains. Although shares of Mondelez underperfomed the industry in the last one year, its earnings estimates for 2018 have been trending upward in the last 30 days. This reflects analysts' optimism on the stock's prospect. However, Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand. Moreover, with a significant portion of its sales coming from the international markets, currency is a significant top-line headwind.”
Several other research firms also recently commented on MDLZ. TheStreet upgraded shares of Mondelez International from a c+ rating to a b rating in a research report on Thursday, December 21st. BidaskClub upgraded shares of Mondelez International from a strong sell rating to a sell rating in a research report on Thursday, December 7th. UBS Group restated a buy rating and set a $49.00 price objective on shares of Mondelez International in a research report on Friday, October 13th. Morgan Stanley cut their price objective on shares of Mondelez International from $50.00 to $48.00 and set an overweight rating for the company in a research report on Friday, October 13th. Finally, BMO Capital Markets restated a buy rating and set a $48.00 price objective on shares of Mondelez International in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mondelez International currently has an average rating of Buy and an average price target of $49.43.
Shares of Mondelez International (NASDAQ MDLZ) opened at $42.47 on Friday. Mondelez International has a 12-month low of $39.19 and a 12-month high of $47.23. The company has a market cap of $63,470.00, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.58 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.51 and a quick ratio of 0.34.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Monday, October 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Mondelez International had a net margin of 8.61% and a return on equity of 12.31%. The firm had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Mondelez International’s revenue for the quarter was up 2.1% on a year-over-year basis. equities analysts forecast that Mondelez International will post 2.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Friday, December 29th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. Mondelez International’s payout ratio is currently 61.11%.
In other news, Director Lewis W. K. Booth acquired 1,500 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $41.29 per share, for a total transaction of $61,935.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MDLZ. Bessemer Group Inc. increased its holdings in shares of Mondelez International by 8,492.9% in the 2nd quarter. Bessemer Group Inc. now owns 4,136,467 shares of the company’s stock valued at $178,655,000 after purchasing an additional 4,088,329 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Mondelez International by 348.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 4,044,516 shares of the company’s stock valued at $164,450,000 after purchasing an additional 3,143,550 shares in the last quarter. Lindsell Train Ltd increased its holdings in shares of Mondelez International by 18.3% in the 3rd quarter. Lindsell Train Ltd now owns 19,950,710 shares of the company’s stock valued at $811,196,000 after purchasing an additional 3,086,000 shares in the last quarter. Eaton Vance Management increased its holdings in shares of Mondelez International by 98.7% in the 2nd quarter. Eaton Vance Management now owns 5,038,277 shares of the company’s stock valued at $217,603,000 after purchasing an additional 2,502,668 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Mondelez International by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 9,466,294 shares of the company’s stock valued at $408,850,000 after purchasing an additional 2,023,918 shares in the last quarter. Institutional investors and hedge funds own 75.82% of the company’s stock.
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About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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