Piper Sandler Has Lowered Expectations for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price objective decreased by investment analysts at Piper Sandler from $84.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 20.98% from the stock’s previous close.

MDLZ has been the subject of several other research reports. Evercore ISI raised their price target on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Stifel Nicolaus boosted their target price on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group cut their price target on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America lifted their price objective on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $61.00 target price (down from $74.00) on shares of Mondelez International in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.93.

Mondelez International Price Performance

MDLZ opened at $57.86 on Thursday. The stock’s 50-day moving average price is $61.76 and its 200 day moving average price is $67.30. Mondelez International has a 12-month low of $55.97 and a 12-month high of $77.20. The firm has a market cap of $77.37 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.99 and a beta of 0.54. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.14. The business had revenue of $9.20 billion for 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%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, sell-side analysts expect that Mondelez International will post 3.48 earnings per share for the current year.

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

Institutional Trading of Mondelez International

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in Mondelez International by 3.2% during the third quarter. State Street Corp now owns 60,151,987 shares of the company’s stock worth $4,459,239,000 after buying an additional 1,851,247 shares during the period. Geode Capital Management LLC increased its holdings in shares of Mondelez International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 28,204,955 shares of the company’s stock valued at $2,069,906,000 after acquiring an additional 341,203 shares during the period. FMR LLC raised its position in Mondelez International by 14.2% in the 3rd quarter. FMR LLC now owns 18,255,657 shares of the company’s stock valued at $1,344,894,000 after purchasing an additional 2,268,639 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Mondelez International by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,215,182 shares of the company’s stock worth $1,268,242,000 after purchasing an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC boosted its stake in Mondelez International by 12,057.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock worth $926,327,000 after purchasing an additional 12,470,573 shares during the period. 78.32% of the stock is 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.