Mondelez International (NASDAQ:MDLZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $47.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.82% from the stock’s current price.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. Mondelez’ margins have remained constantly strong backed by cost savings and productivity gains. Also, shares of the company outperformed its industry in the last six months. Earnings estimates for 2018 and 2019 increased 3.8% and 4.7%, respectively, over the last 60 days, reflecting analysts’ optimism. However, Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand.”
Other research analysts have also issued reports about the company. TheStreet upgraded Mondelez International from a “c+” rating to a “b” rating in a report on Thursday, December 21st. Piper Jaffray Companies set a $50.00 price target on Mondelez International and gave the stock a “buy” rating in a report on Thursday, January 18th. Barclays reaffirmed a “buy” rating and set a $50.00 price target on shares of Mondelez International in a report on Friday, February 2nd. Societe Generale raised Mondelez International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $55.00 in a report on Friday, February 2nd. Finally, Bank of America lifted their price target on Mondelez International from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $50.44.
Mondelez International (NASDAQ:MDLZ) last released its earnings results on Wednesday, January 31st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.98 billion. Mondelez International had a return on equity of 12.72% and a net margin of 11.28%. Mondelez International’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. research analysts anticipate that Mondelez International will post 2.47 EPS for the current year.
Mondelez International announced that its board has approved a share buyback program on Wednesday, January 31st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Hubert Weber sold 10,931 shares of Mondelez International stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $43.79, for a total transaction of $478,668.49. Following the sale, the executive vice president now owns 160,865 shares in the company, valued at $7,044,278.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Trian Fund Management, L.P. bought 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, for a total transaction of $45,536,122.00. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Mondelez International during the third quarter worth about $113,000. Cerebellum GP LLC acquired a new stake in shares of Mondelez International during the fourth quarter worth about $127,000. Taylor Hoffman Wealth Management acquired a new stake in shares of Mondelez International during the fourth quarter worth about $144,000. Banco de Sabadell S.A acquired a new position in Mondelez International in the 4th quarter valued at about $148,000. Finally, Delpha Capital Management LLC acquired a new position in Mondelez International in the 4th quarter valued at about $152,000. Institutional investors and hedge funds own 75.84% of the company’s stock.
Mondelez International Company Profile
Mondelez International, Inc, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
Receive News & Ratings for Mondelez International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mondelez International and related companies with MarketBeat.com's FREE daily email newsletter.