Piper Sandler Issues Positive Forecast for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price target boosted by stock analysts at Piper Sandler from $59.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 0.27% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Dbs Bank cut shares of Mondelez International from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 7th. DZ Bank downgraded Mondelez International from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research note on Friday, February 7th. Argus downgraded Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Morgan Stanley started coverage on Mondelez International in a research note on Monday, March 24th. They set an “overweight” rating and a $69.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.45.

Mondelez International Stock Performance

Shares of MDLZ stock traded down $0.23 during trading on Wednesday, hitting $63.83. The company’s stock had a trading volume of 1,232,081 shares, compared to its average volume of 7,994,165. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58. The company has a market cap of $82.56 billion, a PE ratio of 18.62, a P/E/G ratio of 4.34 and a beta of 0.47. The business has a fifty day moving average of $63.67 and a 200-day moving average of $64.33. Mondelez International has a 52 week low of $53.95 and a 52 week high of $76.06.

Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. As a group, research analysts anticipate that Mondelez International will post 2.9 earnings per share for the current year.

Mondelez International declared that its board has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Mondelez International

Institutional investors and hedge funds have recently bought and sold shares of the stock. ICICI Prudential Asset Management Co Ltd raised its position in shares of Mondelez International by 430.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company’s stock valued at $5,520,000 after buying an additional 74,975 shares in the last quarter. Czech National Bank increased its stake in Mondelez International by 6.5% in the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after acquiring an additional 17,815 shares during the last quarter. Buckingham Capital Management Inc. raised its position in Mondelez International by 25.5% during the fourth quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company’s stock valued at $5,578,000 after purchasing an additional 18,961 shares in the last quarter. Legacy Private Trust Co. raised its position in Mondelez International by 33.2% during the fourth quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after purchasing an additional 957 shares in the last quarter. Finally, Kennedy Investment Group bought a new stake in Mondelez International during the fourth quarter worth about $313,000. 78.32% of the stock is owned by hedge funds and other 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.