Citigroup Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $71.00

Mondelez International (NASDAQ:MDLZ) had its target price decreased by Citigroup from $78.00 to $71.00 in a research report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company reiterated an “equal weight” rating and set a $61.00 target price (down previously from $74.00) on shares of Mondelez International in a research report on Tuesday. Piper Sandler increased their target price on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Redburn Atlantic assumed coverage on Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price for the company. Evercore ISI increased 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. Finally, Bank of America upped their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.64.

Mondelez International Stock Performance

MDLZ stock opened at $56.25 on Wednesday. The stock has a market capitalization of $75.22 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. 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 company has a 50 day moving average price of $62.59 and a 200 day moving average price of $67.56. Mondelez International has a fifty-two week low of $56.21 and a fifty-two week high of $77.20.

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, beating the consensus estimate of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts forecast that Mondelez International will post 3.48 EPS for the current year.

Mondelez International declared that its board has authorized a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Mondelez International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Mondelez International’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Mondelez International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC increased its position in shares of Mondelez International by 12,057.4% in the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after acquiring an additional 12,470,573 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Mondelez International by 40.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock worth $1,094,557,000 after purchasing an additional 4,794,746 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Mondelez International during the 3rd quarter worth approximately $219,045,000. FMR LLC boosted its holdings in shares of 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 buying an additional 2,268,639 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Mondelez International in the third quarter valued at $159,823,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

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.