Mondelez International (NASDAQ:MDLZ) Earns “Equal Weight” Rating from Wells Fargo & Company

Mondelez International (NASDAQ:MDLZ)‘s stock had its “equal weight” rating restated by stock analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $61.00 target price on the stock, down from their prior target price of $74.00. Wells Fargo & Company‘s target price would indicate a potential upside of 4.77% from the company’s previous close.

Other analysts have also issued reports about the stock. Piper Sandler increased their target price on shares of Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus increased their price objective on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $67.00 in a research note on Thursday, December 12th. Bank of America raised their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Redburn Atlantic initiated coverage on shares of Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.14.

Mondelez International Price Performance

MDLZ stock opened at $58.22 on Tuesday. The firm has a market cap of $77.85 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.80 and a beta of 0.54. The firm’s fifty day moving average is $63.48 and its 200 day moving average is $67.84. Mondelez International has a 52 week low of $58.12 and a 52 week high of $77.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data 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. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter 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 year.

Mondelez International announced that its board has approved a share repurchase 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 generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Canandaigua National Bank & Trust Co. lifted its stake in shares of Mondelez International by 50.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 32,565 shares of the company’s stock worth $1,945,000 after purchasing an additional 10,920 shares during the period. Boltwood Capital Management increased its holdings in Mondelez International by 3.0% during 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 last quarter. Central Pacific Bank Trust Division raised its position in Mondelez International by 8.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 11,644 shares of the company’s stock worth $695,000 after acquiring an additional 897 shares during the period. Everence Capital Management Inc. boosted its stake in shares of Mondelez International by 60.3% during the 4th quarter. Everence Capital Management Inc. now owns 62,462 shares of the company’s stock worth $3,731,000 after acquiring an additional 23,500 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Mondelez International by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,567,067 shares of the company’s stock worth $115,446,000 after acquiring an additional 82,742 shares during the last quarter. Institutional investors own 78.32% of the company’s stock.

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.