Mondelez International (NASDAQ:MDLZ) Given New $76.00 Price Target at Piper Sandler

Mondelez International (NASDAQ:MDLZ) had its target price cut by Piper Sandler from $78.00 to $76.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Mondelez International from $72.00 to $73.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. TD Cowen cut their price objective on shares of Mondelez International from $83.00 to $79.00 and set a buy rating for the company in a research report on Thursday, June 6th. Barclays cut their target price on Mondelez International from $80.00 to $76.00 and set an overweight rating for the company in a research note on Friday, July 19th. Stifel Nicolaus reduced their price target on shares of Mondelez International from $80.00 to $75.00 and set a buy rating on the stock in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company decreased their target price on Mondelez International from $80.00 to $76.00 and set an overweight rating on the stock in a research note on Tuesday, June 4th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International currently has a consensus rating of Moderate Buy and a consensus target price of $78.94.

Mondelez International Stock Performance

MDLZ traded down $0.56 during trading on Friday, reaching $69.72. 5,609,393 shares of the company’s stock were exchanged, compared to its average volume of 7,256,222. The stock has a market capitalization of $93.52 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. Mondelez International has a 1 year low of $60.75 and a 1 year high of $77.20. The company’s fifty day simple moving average is $66.96 and its 200-day simple moving average is $69.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.63.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the business posted $0.76 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Mondelez International will post 3.49 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.70%. This is a boost from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s dividend payout ratio is currently 59.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MDLZ. Norges Bank acquired a new stake in shares of Mondelez International in the fourth quarter valued at about $1,231,413,000. Vanguard Group Inc. lifted its position in shares of Mondelez International by 5.4% in the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after acquiring 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% during the 4th quarter. Capital Research Global Investors now owns 30,291,001 shares of the company’s stock worth $2,193,977,000 after purchasing an additional 6,426,928 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Mondelez International by 40.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after buying an additional 4,794,746 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Mondelez International by 152.3% during the 4th quarter. First Trust Advisors LP now owns 4,114,581 shares of the company’s stock worth $298,019,000 after purchasing an additional 2,483,972 shares during the period. 78.32% of the stock is currently owned by hedge funds and other 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.