The Goldman Sachs Group Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $68.00

Mondelez International (NASDAQ:MDLZ) had its price objective trimmed by The Goldman Sachs Group from $79.00 to $68.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

MDLZ has been the topic of a number of other reports. Redburn Atlantic began coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Bank of America increased their target price on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company restated an “equal weight” rating and issued a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Stifel Nicolaus increased their price objective on shares of Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Piper Sandler lifted their price objective on shares of Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.93.

Mondelez International Trading Up 2.4 %

Mondelez International stock opened at $58.00 on Tuesday. Mondelez International has a 1 year low of $55.97 and a 1 year high of $77.20. The firm’s 50 day moving average price is $61.91 and its 200-day moving average price is $67.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The stock has a market cap of $77.56 billion, a P/E ratio of 20.57, a PEG ratio of 2.99 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. Mondelez International’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. On average, equities analysts predict that Mondelez International will post 3.48 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Mondelez International Announces Dividend

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 dividend of $0.47 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.24%. Mondelez International’s dividend payout ratio is 66.67%.

Hedge Funds Weigh In On Mondelez International

Several hedge funds have recently bought and sold shares of MDLZ. Czech National Bank boosted its stake in shares of Mondelez International by 6.5% during the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after purchasing an additional 17,815 shares during the period. Legacy Private Trust Co. boosted its position in Mondelez International by 33.2% in the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after buying an additional 957 shares during the period. Benjamin Edwards Inc. boosted its position in Mondelez International by 1,904.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock valued at $31,369,000 after buying an additional 404,567 shares during the period. Kingsview Wealth Management LLC grew its stake in Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after acquiring an additional 14,278 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Mondelez International by 11.6% during the third quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company’s stock worth $18,349,000 after acquiring an additional 25,833 shares during the period. Institutional investors 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.