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

Mondelez International (NASDAQ:MDLZ) had its price objective cut by Citigroup from $78.00 to $71.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler upped their target price on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Bank of America boosted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. 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 report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and cut their price objective for the company from $78.00 to $67.00 in a research report on Thursday, December 12th. Finally, Redburn Atlantic initiated coverage on Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.64.

Mondelez International Price Performance

Shares of MDLZ opened at $58.29 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The firm has a market cap of $77.95 billion, a PE ratio of 20.67, a PEG ratio of 2.80 and a beta of 0.54. Mondelez International has a twelve month low of $57.67 and a twelve month high of $77.20. The firm’s 50 day moving average price is $63.04 and its 200 day moving average price is $67.71.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data 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. The business 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%. Mondelez International’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS. As a group, research analysts expect that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Tuesday, December 31st. Mondelez International’s dividend payout ratio is presently 66.67%.

Mondelez International announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Mondelez International

Several institutional investors have recently modified their holdings of the business. Legacy Private Trust Co. boosted its stake in Mondelez International by 33.2% in the fourth quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after acquiring an additional 957 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of Mondelez International by 1.4% in the 4th quarter. Douglas Lane & Associates LLC now owns 14,130 shares of the company’s stock valued at $844,000 after purchasing an additional 198 shares during the period. Diversified Trust Co increased its holdings in Mondelez International by 85.6% in the fourth quarter. Diversified Trust Co now owns 41,574 shares of the company’s stock valued at $2,483,000 after purchasing an additional 19,175 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in Mondelez International by 50.5% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 32,565 shares of the company’s stock valued at $1,945,000 after buying an additional 10,920 shares in the last quarter. Finally, Boltwood Capital Management boosted its holdings in shares of Mondelez International by 3.0% in the fourth quarter. Boltwood Capital Management now owns 13,270 shares of the company’s stock valued at $793,000 after buying an additional 382 shares during the period. Institutional investors and hedge funds own 78.32% of the company’s stock.

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.