Mondelez International (NASDAQ:MDLZ) Given New $60.00 Price Target at The Goldman Sachs Group

Mondelez International (NASDAQ:MDLZ) had its price objective trimmed by The Goldman Sachs Group from $68.00 to $60.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also issued reports on MDLZ. UBS Group reduced their price target on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Citigroup reduced their target price on shares of Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Bank of America upped their price target on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group lowered Mondelez International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $62.00 in a research note on Tuesday, January 21st. Finally, Barclays dropped their target price on Mondelez International from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.76.

Mondelez International Price Performance

Shares of MDLZ opened at $57.83 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The company’s fifty day moving average price is $59.61 and its 200-day moving average price is $66.47. Mondelez International has a 1-year low of $53.95 and a 1-year high of $76.06. The firm has a market capitalization of $77.33 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. On average, equities research analysts predict that Mondelez International will post 3.44 EPS for the current year.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio is presently 66.67%.

Mondelez International declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Mondelez International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Mondelez International during the third quarter worth about $25,000. Marshall Investment Management LLC acquired a new position in shares of Mondelez International during the 4th quarter worth approximately $26,000. Prospera Private Wealth LLC purchased a new stake in shares of Mondelez International in the third quarter valued at approximately $27,000. Hager Investment Management Services LLC acquired a new stake in shares of Mondelez International in the fourth quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. lifted its position in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. 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.