Credit Suisse Group reissued their buy rating on shares of Mondelez International, Inc. (NASDAQ:MDLZ) in a report published on Tuesday, June 13th. They currently have a $50.00 price objective on the stock.
Several other research firms have also commented on MDLZ. Morgan Stanley boosted their price target on Mondelez International from $48.00 to $50.00 and gave the stock an overweight rating in a research report on Thursday, May 25th. Piper Jaffray Companies began coverage on Mondelez International in a research report on Wednesday, May 24th. They issued a neutral rating and a $48.00 target price on the stock. Royal Bank Of Canada reaffirmed a buy rating and issued a $54.00 target price on shares of Mondelez International in a research report on Monday, May 22nd. TheStreet raised Mondelez International from a c rating to a b- rating in a research report on Wednesday, April 26th. Finally, Deutsche Bank AG assumed coverage on Mondelez International in a research report on Wednesday, February 15th. They issued a hold rating and a $49.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $49.34.
Mondelez International (NASDAQ MDLZ) traded down 0.40% during midday trading on Tuesday, hitting $45.30. 2,144,266 shares of the stock traded hands. Mondelez International has a 12-month low of $40.50 and a 12-month high of $47.23. The firm has a market cap of $68.73 billion, a P/E ratio of 40.92 and a beta of 1.17. The company’s 50-day moving average is $45.61 and its 200 day moving average is $44.54.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.37 billion. Mondelez International had a return on equity of 11.58% and a net margin of 6.70%. On average, analysts anticipate that Mondelez International will post $2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, June 28th. Mondelez International’s dividend payout ratio is 68.47%.
In other Mondelez International news, EVP Robin S. Hargrove sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $44.87, for a total value of $269,220.00. Following the sale, the executive vice president now owns 14,663 shares of the company’s stock, valued at approximately $657,928.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 1,731,410 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $44.71, for a total value of $77,411,341.10. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Wesbanco Bank Inc. increased its stake in shares of Mondelez International by 1.3% in the fourth quarter. Wesbanco Bank Inc. now owns 291,750 shares of the company’s stock worth $12,934,000 after buying an additional 3,799 shares in the last quarter. Essex Financial Services Inc. increased its position in Mondelez International by 26.7% in the fourth quarter. Essex Financial Services Inc. now owns 23,043 shares of the company’s stock valued at $1,021,000 after buying an additional 4,855 shares during the period. Benson Investment Management Company Inc. bought a new position in Mondelez International during the fourth quarter valued at approximately $2,128,000. First Command Bank bought a new position in Mondelez International during the fourth quarter valued at approximately $109,000. Finally, Norway Savings Bank bought a new position in Mondelez International during the fourth quarter valued at approximately $628,000. Institutional investors own 76.69% of the company’s stock.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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