Mondelez International, Inc. (NASDAQ:MDLZ) – Equities researchers at Jefferies Financial Group upped their Q3 2021 earnings estimates for shares of Mondelez International in a research note issued to investors on Tuesday, January 12th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings of $0.74 per share for the quarter, up from their previous estimate of $0.72. Jefferies Financial Group currently has a “Buy” rating and a $66.00 price objective on the stock. Jefferies Financial Group also issued estimates for Mondelez International’s Q2 2022 earnings at $0.72 EPS, Q3 2022 earnings at $0.80 EPS and FY2022 earnings at $3.13 EPS.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Mondelez International from a “hold” rating to a “sell” rating and set a $58.00 price target for the company. in a research note on Thursday, November 5th. Guggenheim downgraded Mondelez International from a “buy” rating to a “neutral” rating in a research report on Thursday, October 15th. Morgan Stanley decreased their price target on Mondelez International from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Mondelez International in a research note on Wednesday, November 18th. They issued a “buy” rating and a $68.00 price target for the company. Finally, Piper Sandler raised their target price on shares of Mondelez International from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.11.
Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. Mondelez International had a return on equity of 13.92% and a net margin of 11.99%. The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.48 billion. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis.
A number of large investors have recently made changes to their positions in MDLZ. NuWave Investment Management LLC grew its stake in Mondelez International by 73.3% in the 4th quarter. NuWave Investment Management LLC now owns 572 shares of the company’s stock worth $33,000 after buying an additional 242 shares in the last quarter. Holloway Wealth Management LLC bought a new stake in shares of Mondelez International during the 3rd quarter worth $34,000. Baron Financial Group LLC purchased a new position in Mondelez International in the third quarter worth $37,000. ELM Advisors LLC bought a new position in Mondelez International in the fourth quarter valued at $44,000. Finally, Summit X LLC purchased a new stake in Mondelez International during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.
In related news, EVP Vinzenz P. Gruber sold 49,719 shares of Mondelez International stock in a transaction on Thursday, December 3rd. The stock was sold at an average price of $58.62, for a total transaction of $2,914,527.78. Following the completion of the transaction, the executive vice president now directly owns 132,647 shares of the company’s stock, valued at $7,775,767.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Siewert bought 2,000 shares of the firm’s stock in a transaction on Tuesday, December 8th. The shares were purchased at an average price of $58.42 per share, for a total transaction of $116,840.00. Following the completion of the transaction, the director now owns 37,750 shares of the company’s stock, valued at approximately $2,205,355. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Thursday, December 31st will be paid a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.20%. Mondelez International’s dividend payout ratio (DPR) is presently 51.01%.
Mondelez International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 2nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
About Mondelez International
Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells 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.
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