Mondelez International (NASDAQ:MDLZ) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Mondelez International (NASDAQ:MDLZ) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $67.00 price objective on the stock, down from their prior price objective of $78.00. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 8.19% from the company’s previous close.

MDLZ has been the topic of a number of other reports. Piper Sandler boosted their price target on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Redburn Atlantic started coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Evercore ISI raised their price target on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Bank of America lifted their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on shares of Mondelez International from $78.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.07.

Mondelez International Price Performance

MDLZ opened at $61.93 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market cap of $82.81 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. The stock has a fifty day simple moving average of $66.99 and a two-hundred day simple moving average of $68.63. Mondelez International has a 12-month low of $60.33 and a 12-month 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, topping the consensus estimate of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same period last year, the business earned $0.82 EPS. Mondelez International’s quarterly revenue was up 1.9% compared to the same quarter last year. Research 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 stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Mondelez International

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Mondelez International by 3.2% in the 3rd 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 last quarter. Geode Capital Management LLC lifted its holdings in Mondelez International by 1.2% in the third 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 boosted its position in Mondelez International by 14.2% in the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after purchasing an additional 2,268,639 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of 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 valued at $1,268,242,000 after purchasing an additional 489,068 shares during the period. Finally, Mizuho Securities USA LLC increased its position in shares of 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 valued at $926,327,000 after purchasing an additional 12,470,573 shares during the last quarter. 78.32% of the stock is currently 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.