Mondelez International (NASDAQ:MDLZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $51.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.89% from the stock’s previous close.
According to Zacks, “Mondelez reported fourth-quarter 2017 results, with earnings beating the Zacks Consensus Estimate and revenues meeting the same. Adjusted earnings grew 21%, primarily driven by operating gains. Net revenues increased 2.9% year over year, courtesy of the Power Brands and favorable trends in emerging markets. Emerging markets’ net revenues rose 6.3%, while Power Brands witnessed a 3.7% rise. Regionally, Latin America, Asia, Middle East & Africa and Europe registered an increase of 4.2%, 2.6% and 5% in revenues, respectively. However, North America’s revenues declined 0.6%. Adjusted operating margin expanded 180 basis points year over year on lower overhead costs owing to continued cost reduction.”
Several other analysts also recently commented on MDLZ. Morgan Stanley reduced their price objective on shares of Mondelez International from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. UBS Group reissued a “buy” rating and issued a $49.00 price target on shares of Mondelez International in a research report on Friday, October 13th. Susquehanna Bancshares set a $45.00 price target on shares of Mondelez International and gave the company a “hold” rating in a research report on Monday, October 30th. Buckingham Research reduced their price target on shares of Mondelez International from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, Credit Suisse Group lifted their price target on shares of Mondelez International from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Mondelez International has a consensus rating of “Buy” and a consensus price target of $50.82.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.98 billion. Mondelez International had a net margin of 11.28% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. research analysts expect that Mondelez International will post 2.46 earnings per share for the current year.
Mondelez International declared that its board has initiated 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 repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Lewis W. K. Booth acquired 1,500 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $41.29 per share, with a total value of $61,935.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Mondelez International by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,799,909 shares of the company’s stock worth $4,267,168,000 after purchasing an additional 1,168,269 shares during the period. Northern Trust Corp raised its stake 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 period. Lindsell Train Ltd raised its stake 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 period. Macquarie Group Ltd. raised its stake in shares of Mondelez International by 1.0% during the 3rd quarter. Macquarie Group Ltd. now owns 16,975,186 shares of the company’s stock worth $690,211,000 after purchasing an additional 175,487 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Mondelez International by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,967,667 shares of the company’s stock worth $689,906,000 after purchasing an additional 47,563 shares during the period. Institutional investors own 76.11% of the company’s stock.
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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.
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