Stock analysts at Evercore ISI initiated coverage on shares of Mondelez International (NASDAQ:MDLZ) in a research note issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.
MDLZ has been the topic of a number of other research reports. ValuEngine raised shares of Mondelez International from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. UBS Group lifted their price target on Mondelez International to $56.00 and gave the company a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on Mondelez International from $50.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. BidaskClub raised Mondelez International from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 16th. Finally, Zacks Investment Research cut Mondelez International from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $49.67.
NASDAQ MDLZ traded down $0.20 during trading hours on Tuesday, reaching $53.99. The company’s stock had a trading volume of 6,518,998 shares, compared to its average volume of 7,249,458. The company has a quick ratio of 0.33, a current ratio of 0.48 and a debt-to-equity ratio of 0.50. Mondelez International has a 52 week low of $38.78 and a 52 week high of $54.43. The stock has a market capitalization of $77.81 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.85 and a beta of 0.82.
Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. Mondelez International had a net margin of 12.66% and a return on equity of 14.17%. The firm had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the company posted $0.62 earnings per share. Mondelez International’s revenue was down 3.4% on a year-over-year basis. As a group, equities research analysts expect that Mondelez International will post 2.49 earnings per share for the current year.
In related news, EVP Gerhard W. Pleuhs sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $51.57, for a total transaction of $2,062,800.00. Following the transaction, the executive vice president now owns 110,308 shares in the company, valued at $5,688,583.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC grew its position in Mondelez International by 2.7% in the first quarter. Clearbridge Investments LLC now owns 9,245,844 shares of the company’s stock worth $461,553,000 after buying an additional 242,141 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Mondelez International by 4.9% in the first quarter. Princeton Global Asset Management LLC now owns 14,364 shares of the company’s stock worth $717,000 after buying an additional 668 shares during the last quarter. Cerebellum GP LLC acquired a new position in Mondelez International in the first quarter worth approximately $330,000. Allstate Corp grew its position in Mondelez International by 38.9% in the first quarter. Allstate Corp now owns 73,793 shares of the company’s stock worth $3,684,000 after buying an additional 20,672 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in Mondelez International by 67.9% in the first quarter. EP Wealth Advisors LLC now owns 8,770 shares of the company’s stock worth $438,000 after buying an additional 3,548 shares during the last quarter. Institutional investors and hedge funds own 76.04% 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; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's primary snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; and Trident gums and Tang powdered beverages.
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