Mondelez International Inc (NASDAQ:MDLZ) – Research analysts at Gabelli dropped their FY2022 earnings estimates for shares of Mondelez International in a report issued on Monday, according to Zacks Investment Research. Gabelli analyst S. Donnelly now anticipates that the company will post earnings per share of $3.45 for the year, down from their prior forecast of $3.50.
A number of other brokerages have also weighed in on MDLZ. Morgan Stanley raised their price target on shares of Mondelez International from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research raised shares of Mondelez International from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, January 4th. BidaskClub raised shares of Mondelez International from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Bank of America raised their price target on shares of Mondelez International from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Barclays reaffirmed a “buy” rating and issued a $50.00 price target on shares of Mondelez International in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Mondelez International presently has an average rating of “Buy” and a consensus price target of $50.69.
Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.98 billion. Mondelez International had a net margin of 11.28% and a return on equity of 12.72%. Mondelez International’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. Mondelez International’s payout ratio is 47.06%.
Mondelez International announced that its Board of Directors has initiated a share buyback program on Wednesday, January 31st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Mondelez International news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was bought at an average price of $43.90 per share, for a total transaction of $87,800.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. purchased 1,028,600 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of $44.27 per share, with a total value of $45,536,122.00. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Mondelez International by 4.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 100,688 shares of the company’s stock worth $4,309,000 after buying an additional 4,173 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Mondelez International by 7.0% during the 4th quarter. Xact Kapitalforvaltning AB now owns 253,806 shares of the company’s stock worth $10,863,000 after buying an additional 16,711 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Mondelez International by 71.4% during the 4th quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock worth $514,000 after buying an additional 5,000 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Mondelez International by 2.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 253,261 shares of the company’s stock worth $10,838,000 after buying an additional 7,109 shares during the last quarter. Finally, CNB Bank acquired a new stake in shares of Mondelez International during the 4th quarter worth approximately $384,000. Institutional investors and hedge funds own 75.91% of the company’s stock.
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Mondelez International Company Profile
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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