Mondelez International (NASDAQ:MDLZ) had its price target raised by stock analysts at Morgan Stanley from $49.00 to $50.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 9.00% from the company’s previous close.
A number of other analysts also recently weighed in on the company. Susquehanna Bancshares restated a “hold” rating and issued a $48.00 price objective on shares of Mondelez International in a report on Tuesday. Piper Jaffray Companies set a $50.00 price objective on Mondelez International and gave the company a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded Mondelez International from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Friday, January 12th. BidaskClub downgraded Mondelez International from a “sell” rating to a “strong sell” rating in a report on Friday, January 5th. Finally, TheStreet upgraded Mondelez International from a “c+” rating to a “b” rating in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Mondelez International currently has a consensus rating of “Buy” and a consensus target price of $50.40.
Mondelez International (NASDAQ MDLZ) traded up $1.47 during midday trading on Thursday, reaching $45.87. The company had a trading volume of 20,095,623 shares, compared to its average volume of 8,678,453. The firm has a market capitalization of $68,980.00, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97. Mondelez International has a 1-year low of $39.19 and a 1-year high of $47.23. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.49.
Mondelez International announced that its Board of Directors has authorized a share buyback program on Wednesday, January 31st that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other Mondelez International news, Director Lewis W. K. Booth purchased 1,500 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $41.29 per share, for a total transaction of $61,935.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.60% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Mondelez International in the 3rd quarter valued at about $113,000. Cerebellum GP LLC acquired a new stake in shares of Mondelez International in the 4th quarter valued at about $127,000. Acrospire Investment Management LLC grew its stake in shares of Mondelez International by 1,450.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,100 shares of the company’s stock valued at $134,000 after buying an additional 2,900 shares during the period. Rockefeller Financial Services Inc. grew its stake in shares of Mondelez International by 300.0% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 4,000 shares of the company’s stock valued at $163,000 after buying an additional 3,000 shares during the period. Finally, Tortoise Investment Management LLC grew its stake in shares of Mondelez International by 232.4% in the 3rd quarter. Tortoise Investment Management LLC now owns 4,291 shares of the company’s stock valued at $174,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 76.02% of the company’s stock.
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Mondelez International Company Profile
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
