Mondelez International (NASDAQ:MDLZ) had its price objective boosted by Bank of America from $50.00 to $56.00 in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the stock. Bank of America’s target price indicates a potential upside of 22.08% from the company’s current price.
Several other equities analysts also recently commented on MDLZ. Morgan Stanley upped their target price on Mondelez International from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday. TheStreet raised Mondelez International from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $48.00 target price on shares of Mondelez International in a research report on Tuesday. Zacks Investment Research downgraded Mondelez International from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Piper Jaffray Companies set a $50.00 price target on Mondelez International and gave the company a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $50.40.
Mondelez International (NASDAQ:MDLZ) traded up $1.47 during trading on Thursday, hitting $45.87. The stock had a trading volume of 20,095,623 shares, compared to its average volume of 8,678,453. Mondelez International has a 52 week low of $39.19 and a 52 week 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. 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 announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In related news, Director Lewis W. K. Booth purchased 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $41.29 per share, for a total transaction of $61,935.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwest Quadrant Wealth Management LLC lifted its stake in Mondelez International by 0.4% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 7,069 shares of the company’s stock worth $309,000 after purchasing an additional 30 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Mondelez International by 0.4% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 10,363 shares of the company’s stock worth $447,000 after purchasing an additional 38 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in Mondelez International by 0.3% during the second quarter. Linscomb & Williams Inc. now owns 13,433 shares of the company’s stock worth $580,000 after purchasing an additional 39 shares during the last quarter. Allen Investment Management LLC lifted its stake in Mondelez International by 0.3% during the second quarter. Allen Investment Management LLC now owns 18,186 shares of the company’s stock worth $785,000 after purchasing an additional 49 shares during the last quarter. Finally, Frontier Wealth Management LLC lifted its stake in Mondelez International by 0.3% during the second quarter. Frontier Wealth Management LLC now owns 23,190 shares of the company’s stock worth $1,002,000 after purchasing an additional 75 shares during the last quarter. 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.
