DA Davidson Trims Mondelez International (NASDAQ:MDLZ) Target Price to $75.00

Mondelez International (NASDAQ:MDLZ) had its target price trimmed by DA Davidson from $80.00 to $75.00 in a research report released on Wednesday, Marketbeat reports. The brokerage currently has a buy rating on the stock. DA Davidson also issued estimates for Mondelez International’s Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.84 EPS, FY2024 earnings at $3.47 EPS and FY2025 earnings at $3.57 EPS.

A number of other analysts also recently commented on the company. Bank of America decreased their target price on Mondelez International from $82.00 to $80.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Sanford C. Bernstein dropped their target price on shares of Mondelez International from $90.00 to $88.00 and set an outperform rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Mondelez International from $78.00 to $75.00 and set a buy rating on the stock in a report on Wednesday, July 17th. TD Cowen cut their price objective on Mondelez International from $83.00 to $79.00 and set a buy rating for the company in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. lowered their target price on Mondelez International from $82.00 to $76.00 and set an overweight rating on the stock in a report on Friday, April 12th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International currently has an average rating of Moderate Buy and a consensus price target of $79.06.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $70.68 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Mondelez International has a fifty-two week low of $60.75 and a fifty-two week high of $77.20. The firm’s fifty day simple moving average is $66.81 and its 200-day simple moving average is $69.80. The stock has a market cap of $94.81 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. Analysts expect that Mondelez International will post 3.49 earnings per share for the current fiscal year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be given a $0.47 dividend. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, September 30th. Mondelez International’s dividend payout ratio (DPR) is 53.97%.

Institutional Investors Weigh In On Mondelez International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Mondelez International by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock worth $9,153,609,000 after purchasing an additional 6,696,897 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mondelez International by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,406,133 shares of the company’s stock valued at $2,636,897,000 after acquiring an additional 1,686,229 shares during the period. Capital Research Global Investors boosted its position in Mondelez International by 7.3% during the 1st quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock worth $2,274,792,000 after purchasing an additional 2,206,023 shares during the period. Capital World Investors increased its holdings in Mondelez International by 2.2% in the 4th quarter. Capital World Investors now owns 21,562,411 shares of the company’s stock valued at $1,561,765,000 after purchasing an additional 463,738 shares in the last quarter. Finally, Norges Bank purchased a new position in Mondelez International in the fourth quarter valued at about $1,231,413,000. 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.