Citigroup Issues Pessimistic Forecast for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price objective decreased by equities research analysts at Citigroup from $78.00 to $71.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 21.80% from the company’s previous close.

A number of other research firms have also commented on MDLZ. 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $61.00 price objective (down from $74.00) on shares of Mondelez International in a research note on Tuesday. Redburn Atlantic began coverage on Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Bank of America raised their target price on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus upped their price target on Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.64.

Mondelez International Stock Performance

Shares of MDLZ opened at $58.29 on Wednesday. The stock’s fifty day simple moving average is $62.83 and its 200-day simple moving average is $67.65. The firm has a market capitalization of $77.95 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. Mondelez International has a 12-month low of $57.67 and a 12-month high of $77.20. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59.

Mondelez International (NASDAQ:MDLZ) last released its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Mondelez International will post 3.48 earnings per share for the current year.

Mondelez International announced that its board has approved a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Mondelez International

A number of large investors have recently added to or reduced their stakes in the company. Axiom Advisory LLC boosted its position in shares of Mondelez International by 1.6% during the third quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock worth $643,000 after buying an additional 143 shares during the period. Sachetta LLC boosted its position in Mondelez International by 14.0% during the 2nd quarter. Sachetta LLC now owns 1,215 shares of the company’s stock worth $81,000 after acquiring an additional 149 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Mondelez International by 16.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock worth $78,000 after acquiring an additional 150 shares in the last quarter. Carnegie Investment Counsel raised its holdings in shares of 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 during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in shares of Mondelez International by 1.3% in 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 in the last quarter. Institutional investors own 78.32% of the company’s stock.

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.