Wells Fargo & Company Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $74.00

Mondelez International (NASDAQ:MDLZ) had its price target cut by Wells Fargo & Company from $78.00 to $74.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on MDLZ. Stifel Nicolaus lifted their price target on Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup cut their price objective on Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group began coverage on Mondelez International in a research report on Monday, August 12th. They set a “buy” rating and a $80.00 target price on the stock. Redburn Atlantic assumed coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target for the company. Finally, Evercore ISI increased their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.64.

Mondelez International Price Performance

Shares of NASDAQ MDLZ opened at $62.86 on Thursday. 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 capitalization of $84.06 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.86 and a beta of 0.53. The firm’s 50 day simple moving average is $68.00 and its 200-day simple moving average is $68.87. Mondelez International has a 12 month low of $62.43 and a 12 month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. Analysts expect that Mondelez International will post 3.48 EPS for the current year.

Institutional Investors Weigh In On Mondelez International

A number of hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. lifted its holdings in Mondelez International by 1,904.9% in the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock valued at $31,369,000 after acquiring an additional 404,567 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Mondelez International by 14.3% in the third quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock valued at $8,430,000 after purchasing an additional 14,278 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Mondelez International by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company’s stock valued at $18,349,000 after purchasing an additional 25,833 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Mondelez International by 0.7% during the 3rd quarter. HighTower Advisors LLC now owns 1,354,879 shares of the company’s stock worth $99,822,000 after purchasing an additional 9,789 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Mondelez International by 51.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 61,531 shares of the company’s stock worth $4,532,000 after purchasing an additional 20,942 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

About Mondelez International

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.