Mondelez International (NASDAQ:MDLZ) Given New $84.00 Price Target at Bank of America

Mondelez International (NASDAQ:MDLZ) had its price objective hoisted by Bank of America from $80.00 to $84.00 in a report 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 research reports. Sanford C. Bernstein cut their price target on shares of Mondelez International from $90.00 to $88.00 and set an outperform rating on the stock in a research report on Wednesday, July 17th. The Goldman Sachs Group initiated coverage on shares of Mondelez International in a research report on Monday, August 12th. They set a buy rating and a $80.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Mondelez International from $72.00 to $73.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Piper Sandler cut their price target on shares of Mondelez International from $78.00 to $76.00 and set an overweight rating on the stock in a research report on Friday, August 9th. Finally, Stifel Nicolaus cut 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 report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $78.65.

Mondelez International Stock Performance

NASDAQ MDLZ opened at $71.80 on Tuesday. The company has a market capitalization of $96.31 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 2.87 and a beta of 0.54. Mondelez International has a twelve month low of $61.83 and a twelve month high of $77.20. The stock has a fifty day simple moving average of $72.43 and a 200 day simple moving average of $69.57. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The business had revenue of $8.34 billion during the quarter, compared to the consensus estimate of $8.45 billion. Mondelez International had a return on equity of 16.69% and a net margin of 10.97%. Mondelez International’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. Sell-side analysts expect that Mondelez International will post 3.5 EPS for the current year.

Mondelez International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. Mondelez International’s dividend payout ratio is currently 59.68%.

Institutional Investors Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Mondelez International by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after acquiring an additional 6,696,897 shares during the last quarter. Capital Research Global Investors increased its stake in Mondelez International by 7.3% in the 1st quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after buying an additional 2,206,023 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Mondelez International by 40.2% in the 2nd 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 last quarter. Legal & General Group Plc increased its stake in Mondelez International by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock valued at $749,467,000 after buying an additional 293,773 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Mondelez International by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock valued at $587,094,000 after buying an additional 1,071,719 shares during the last quarter. Institutional investors and hedge funds 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.