Wells Fargo & Company Upgrades Mondelez International (NASDAQ:MDLZ) to “Overweight”

Mondelez International (NASDAQ:MDLZ) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Friday, MarketBeat reports. The firm currently has a $78.00 price objective on the stock, up from their prior price objective of $68.00. Wells Fargo & Company‘s price target would indicate a potential upside of 14.19% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Mondelez International from $64.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, April 11th. Morgan Stanley raised their price objective on shares of Mondelez International from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Mondelez International in a research note on Monday, April 28th. Piper Sandler raised their price objective on shares of Mondelez International from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 9th. Finally, UBS Group raised their price objective on shares of Mondelez International from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.63.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $68.31 on Friday. Mondelez International has a 12 month low of $53.95 and a 12 month high of $76.06. The firm has a market capitalization of $88.45 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 5.29 and a beta of 0.48. The business’s fifty day moving average price is $66.66 and its 200 day moving average price is $63.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.61 and a quick ratio of 0.40.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter, compared to the consensus estimate of $9.37 billion. Mondelez International had a net margin of 9.90% and a return on equity of 15.94%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. On average, sell-side analysts anticipate that Mondelez International will post 2.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mondelez International

A number of hedge funds have recently made changes to their positions in the stock. Abound Financial LLC acquired a new position in shares of Mondelez International during the 1st quarter valued at $25,000. Goodman Advisory Group LLC acquired a new position in shares of Mondelez International during the first quarter worth about $26,000. Marshall Investment Management LLC acquired a new position in shares of Mondelez International during the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Mondelez International by 376.1% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company’s stock valued at $30,000 after buying an additional 346 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in shares of Mondelez International during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Company Profile

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.