Zacks Investment Research upgraded shares of Mondelez International (NASDAQ:MDLZ) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $47.00 price target on the stock.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. Mondelez’ margins have remained constantly strong backed by cost savings and productivity gains. Also, shares of the company outperformed its industry in the last six months. Earnings estimates for 2018 and 2019 increased 3.8% and 4.7%, respectively, over the last 60 days, reflecting analysts’ optimism. However, Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand.”
A number of other equities research analysts also recently weighed in on the company. BidaskClub raised Mondelez International from a strong sell rating to a sell rating in a report on Monday, February 5th. Barclays reaffirmed a buy rating and set a $50.00 price objective on shares of Mondelez International in a report on Friday, February 2nd. Societe Generale upgraded shares of Mondelez International from a hold rating to a buy rating and lifted their target price for the company from $45.00 to $55.00 in a research note on Friday, February 2nd. Piper Jaffray Companies reiterated a buy rating and issued a $52.00 target price on shares of Mondelez International in a research note on Thursday, February 1st. Finally, Bank of America lifted their target price on shares of Mondelez International from $50.00 to $56.00 and gave the company a buy rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Mondelez International has an average rating of Buy and an average target price of $50.44.
Shares of Mondelez International (MDLZ) opened at $40.51 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.31 and a current ratio of 0.48. The firm has a market capitalization of $61,054.81, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. Mondelez International has a 1-year low of $39.19 and a 1-year high of $47.23.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.98 billion. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. equities research analysts predict that Mondelez International will post 2.47 EPS for the current fiscal year.
Mondelez International declared that its board has authorized a stock repurchase program on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, March 28th. Mondelez International’s dividend payout ratio (DPR) is currently 46.07%.
In related news, Director Trian Fund Management, L.P. acquired 1,028,600 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average price of $44.27 per share, for a total transaction of $45,536,122.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hubert Weber sold 10,931 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $43.79, for a total transaction of $478,668.49. Following the completion of the transaction, the executive vice president now owns 160,865 shares of the company’s stock, valued at approximately $7,044,278.35. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MDLZ. Bank of Nova Scotia Trust Co. bought a new stake in shares of Mondelez International during the 3rd quarter valued at $113,000. Cerebellum GP LLC bought a new stake in shares of Mondelez International during the 4th quarter valued at $127,000. Taylor Hoffman Wealth Management bought a new stake in shares of Mondelez International during the 4th quarter valued at $144,000. Banco de Sabadell S.A bought a new stake in shares of Mondelez International during the 4th quarter valued at $148,000. Finally, Delpha Capital Management LLC bought a new stake in shares of Mondelez International during the 4th quarter valued at $152,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.
About Mondelez International
Mondelez International, Inc, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
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