Mondelez International (NASDAQ:MDLZ) Price Target Cut to $71.00 by Analysts at Citigroup

Mondelez International (NASDAQ:MDLZ) had its price target reduced by equities researchers at Citigroup from $78.00 to $71.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 21.80% from the stock’s current price.

A number of other equities analysts also recently weighed in on MDLZ. Wells Fargo & Company reissued an “equal weight” rating and set a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a research report on Tuesday. Bank of America increased their price target on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Redburn Atlantic started 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 for the company. Evercore ISI increased their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Piper Sandler lifted 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.

Mondelez International Stock Performance

NASDAQ MDLZ opened at $58.29 on Wednesday. Mondelez International has a 12 month low of $57.67 and a 12 month high of $77.20. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $62.83 and a 200-day moving average of $67.65. The company 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 (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 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 analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. On average, equities research analysts anticipate that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International announced that its board has authorized a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Mondelez International

Several institutional investors have recently made changes to their positions in the stock. Axiom Advisory LLC raised its holdings in Mondelez International by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock valued at $643,000 after acquiring an additional 143 shares in the last quarter. Sachetta LLC increased its position in shares of Mondelez International by 14.0% in the second quarter. Sachetta LLC now owns 1,215 shares of the company’s stock worth $81,000 after purchasing an additional 149 shares during the period. Hazlett Burt & Watson Inc. raised its stake in Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock valued at $78,000 after purchasing an additional 150 shares in the last quarter. Carnegie Investment Counsel raised its stake in Mondelez International by 1.4% in the third quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after purchasing an additional 151 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in Mondelez International by 1.3% during the third quarter. SeaCrest Wealth Management LLC now owns 12,130 shares of the company’s stock worth $894,000 after purchasing an additional 156 shares during the period. 78.32% of the stock is currently owned by institutional investors.

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.