Mondelez International (NASDAQ:MDLZ) Shares Gap Up Following Earnings Beat

Mondelez International, Inc. (NASDAQ:MDLZ) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $65.65, but opened at $68.07. Mondelez International shares last traded at $67.58, with a volume of 1,554,680 shares trading hands.

The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. The company had revenue of $9.31 billion during the quarter, compared to analyst estimates of $9.37 billion. During the same period in the previous year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year.

Mondelez International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a $0.47 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.76%. Mondelez International’s dividend payout ratio (DPR) is 54.97%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Mondelez International from $68.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Argus lowered shares of Mondelez International from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays lowered their price target on shares of Mondelez International from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group downgraded shares of Mondelez International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $75.00 to $62.00 in a research report on Tuesday, January 21st. Finally, Piper Sandler upped their target price on shares of Mondelez International from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abound Financial LLC bought a new stake in shares of Mondelez International in the 1st quarter valued at approximately $25,000. Marshall Investment Management LLC bought a new position in shares of Mondelez International during the 4th quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Mondelez International during the 1st quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in Mondelez International in the fourth quarter worth $27,000. Finally, Transce3nd LLC purchased a new position in Mondelez International during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Price Performance

The stock’s 50-day simple moving average is $66.05 and its two-hundred day simple moving average is $63.77. The firm has a market cap of $88.13 billion, a P/E ratio of 19.92, a PEG ratio of 4.34 and a beta of 0.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48.

About Mondelez International

Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.