Zacks Investment Research upgraded shares of Mondelez International (NASDAQ:MDLZ) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $48.00 target price on the stock.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. The company's margins have remained constantly strong backed by cost savings and productivity gains. However, shares of Mondelez underperfomed the industry in the last one year. Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand. Moreover, with a significant portion of its sales coming from the international markets, currency is a significant top-line headwind.”
A number of other research firms also recently weighed in on MDLZ. TheStreet upgraded Mondelez International from a c+ rating to a b rating in a research note on Thursday, December 21st. BidaskClub upgraded Mondelez International from a strong sell rating to a sell rating in a research note on Thursday, December 7th. UBS Group restated a buy rating and issued a $49.00 price target on shares of Mondelez International in a research note on Friday, October 13th. Morgan Stanley decreased their price target on Mondelez International from $50.00 to $48.00 and set an overweight rating on the stock in a research note on Friday, October 13th. Finally, BMO Capital Markets restated a buy rating and issued a $48.00 price target on shares of Mondelez International in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mondelez International has a consensus rating of Buy and a consensus price target of $49.53.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. Mondelez International had a return on equity of 12.31% and a net margin of 8.61%. The firm had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. research analysts expect that Mondelez International will post 2.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.06%. Mondelez International’s dividend payout ratio (DPR) is 61.11%.
In related news, Director Lewis W. K. Booth purchased 1,500 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $41.29 per share, with a total value of $61,935.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Mondelez International by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,799,909 shares of the company’s stock worth $4,267,168,000 after acquiring an additional 1,168,269 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Mondelez International by 7.3% in the second quarter. Northern Trust Corp now owns 21,688,257 shares of the company’s stock worth $936,717,000 after acquiring an additional 1,470,112 shares during the last quarter. Lindsell Train Ltd raised its holdings in shares of Mondelez International by 18.3% in the third quarter. Lindsell Train Ltd now owns 19,950,710 shares of the company’s stock worth $811,196,000 after acquiring an additional 3,086,000 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Mondelez International by 1.0% in the third quarter. Macquarie Group Ltd. now owns 16,975,186 shares of the company’s stock worth $690,211,000 after acquiring an additional 175,487 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mondelez International by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 16,967,667 shares of the company’s stock worth $689,906,000 after acquiring an additional 47,563 shares during the last quarter. 75.78% of the stock is owned by institutional investors.
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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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