Wells Fargo & Company Issues Pessimistic Forecast for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price objective cut by equities research analysts at Wells Fargo & Company from $72.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 17.58% from the company’s current price.

Several other equities research analysts also recently weighed in on MDLZ. Royal Bank Of Canada cut their price target on Mondelez International from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen downgraded shares of Mondelez International from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Piper Sandler lowered their target price on shares of Mondelez International from $63.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. JPMorgan Chase & Co. reduced their price objective on Mondelez International from $74.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, DA Davidson lowered their target price on shares of Mondelez International from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.05.

Mondelez International Stock Down 1.9%

Mondelez International stock opened at $52.73 on Monday. Mondelez International has a fifty-two week low of $52.70 and a fifty-two week high of $71.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.37 and a current ratio of 0.61. The firm has a 50 day moving average price of $55.50 and a 200 day moving average price of $61.10. The company has a market capitalization of $68.04 billion, a PE ratio of 19.75 and a beta of 0.39.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, April 11th. The company reported $0.66 earnings per share (EPS) for the quarter. The firm had revenue of $7.30 billion for the quarter. Mondelez International had a return on equity of 14.16% and a net margin of 9.38%. Research analysts expect that Mondelez International will post 2.9 earnings per share for the current year.

Hedge Funds Weigh In On Mondelez International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Mondelez International in the 2nd quarter valued at about $1,239,834,000. JPMorgan Chase & Co. raised its stake in shares of Mondelez International by 17.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,588,126 shares of the company’s stock valued at $4,347,170,000 after purchasing an additional 10,137,457 shares in the last quarter. Capital International Investors lifted its holdings in Mondelez International by 9.7% during the 3rd quarter. Capital International Investors now owns 78,561,316 shares of the company’s stock worth $4,907,892,000 after buying an additional 6,958,868 shares during the last quarter. First Trust Advisors LP boosted its holdings in Mondelez International by 197.9% in the second quarter. First Trust Advisors LP now owns 4,066,155 shares of the company’s stock worth $274,221,000 after purchasing an additional 2,701,229 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Mondelez International by 103.2% during the 3rd quarter. Van ECK Associates Corp now owns 5,192,301 shares of the company’s stock valued at $324,363,000 after buying an additional 2,637,287 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

About Mondelez International

Mondelez International is a global snacks company headquartered in Chicago, Illinois, formed in 2012 when Kraft Foods split to create a business focused on snack foods and a separate North American grocery company. Mondelez develops, manufactures, markets and distributes a broad portfolio of snack products intended for retail, foodservice and e‑commerce channels around the world.

The company’s product mix centers on biscuits and cookies, chocolate and confectionery, gum and candy, and savory crackers and baked snacks.