Mondelez International (NASDAQ:MDLZ) was upgraded by investment analysts at Societe Generale from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $55.00 price target on the stock, up from their prior price target of $45.00. Societe Generale’s price target suggests a potential upside of 20.88% from the company’s previous close.
MDLZ has been the topic of a number of other research reports. UBS Group restated a “buy” rating and issued a $49.00 price objective on shares of Mondelez International in a report on Friday, October 13th. BMO Capital Markets restated a “buy” rating and issued a $48.00 price objective on shares of Mondelez International in a report on Thursday, November 2nd. BidaskClub lowered Mondelez International from a “sell” rating to a “strong sell” rating in a report on Friday, January 5th. Buckingham Research decreased their price objective on Mondelez International from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Finally, Morgan Stanley decreased their price objective on Mondelez International from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $50.65.
Shares of Mondelez International (MDLZ) traded down $0.37 during trading hours on Friday, hitting $45.50. The stock had a trading volume of 10,788,708 shares, compared to its average volume of 8,580,000. Mondelez International has a 52-week low of $39.19 and a 52-week high of $47.23. The stock has a market cap of $67,450.00, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. The company has a quick ratio of 0.34, a current ratio of 0.48 and a debt-to-equity ratio of 0.50.
Mondelez International declared that its board has approved a stock repurchase program on Wednesday, January 31st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Lewis W. K. Booth purchased 1,500 shares of Mondelez International stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $41.29 per share, for a total transaction of $61,935.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of MDLZ. Amundi Pioneer Asset Management Inc. increased its position in shares of Mondelez International by 348.9% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 4,044,516 shares of the company’s stock worth $164,450,000 after purchasing an additional 3,143,550 shares during the last quarter. Lindsell Train Ltd increased its position in shares of Mondelez International by 18.3% during the 3rd quarter. Lindsell Train Ltd now owns 19,950,710 shares of the company’s stock worth $811,196,000 after purchasing an additional 3,086,000 shares during the last quarter. Eaton Vance Management increased its position in shares of Mondelez International by 98.7% during the 2nd quarter. Eaton Vance Management now owns 5,038,277 shares of the company’s stock worth $217,603,000 after purchasing an additional 2,502,668 shares during the last quarter. Northern Trust Corp increased its position in shares of Mondelez International by 7.3% during the 2nd quarter. Northern Trust Corp now owns 21,688,257 shares of the company’s stock worth $936,717,000 after purchasing an additional 1,470,112 shares during the last quarter. Finally, First Manhattan Co. increased its position in shares of Mondelez International by 164.3% during the 4th quarter. First Manhattan Co. now owns 2,246,429 shares of the company’s stock worth $96,147,000 after purchasing an additional 1,396,538 shares during the last quarter. 76.02% of the stock is owned by hedge funds and other institutional investors.
About Mondelez International
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.
