UBS Group Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $63.00

Mondelez International (NASDAQ:MDLZ) had its price objective lowered by UBS Group from $76.00 to $63.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

MDLZ has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft cut Mondelez International from a “buy” rating to a “hold” rating and decreased their target price for the company from $78.00 to $67.00 in a research report on Thursday, December 12th. Redburn Atlantic assumed 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 note on Thursday, September 26th. Citigroup lowered their price target 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. Finally, Piper Sandler dropped their price target on Mondelez International from $84.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and an average price target of $74.93.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $57.86 on Thursday. 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 market capitalization of $77.37 billion, a PE ratio of 20.52, a PEG ratio of 2.99 and a beta of 0.54. The firm has a 50 day moving average of $61.59 and a 200-day moving average of $67.24. Mondelez International has a 12 month low of $55.97 and a 12 month high of $77.20.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 17.53% and a net margin of 10.58%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. On average, equities research analysts predict that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International Announces Dividend

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

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

Hedge Funds Weigh In On Mondelez International

A number of hedge funds have recently bought and sold shares of MDLZ. Truvestments Capital LLC acquired a new position in shares of Mondelez International in the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the third quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its stake in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the period. Highline Wealth Partners LLC bought a new position in shares of Mondelez International during the 3rd quarter worth approximately $38,000. Finally, Albion Financial Group UT acquired a new stake in shares of Mondelez International during the 4th quarter worth approximately $38,000. Institutional investors 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.