Mondelez International (NASDAQ:MDLZ) Stock Rating Lowered by Piper Sandler

Mondelez International (NASDAQ:MDLZ) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $63.00 target price on the stock, down from their prior target price of $70.00. Piper Sandler’s price target indicates a potential upside of 7.86% from the company’s current price.

MDLZ has been the topic of a number of other reports. UBS Group reduced their target price on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group reduced their price objective on Mondelez International from $79.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 target price on shares of Mondelez International in a report on Thursday. Wells Fargo & Company restated an “equal weight” rating and issued a $61.00 price objective (down from $74.00) on shares of Mondelez International in a report on Tuesday, January 7th. Finally, Redburn Atlantic began coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Mondelez International currently has an average rating of “Moderate Buy” and a consensus target price of $72.76.

Mondelez International Price Performance

MDLZ opened at $58.41 on Friday. The business has a fifty day moving average of $60.34 and a 200 day moving average of $66.77. The stock has a market cap of $78.11 billion, a P/E ratio of 20.71, a PEG ratio of 3.05 and a beta of 0.54. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. Mondelez International has a 52-week low of $55.97 and a 52-week high of $77.20.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. The firm had revenue of $9.20 billion during 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 business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Mondelez International will post 3.44 EPS for the current year.

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

Institutional Investors Weigh In On Mondelez International

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

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.