Mondelez International (NASDAQ:MDLZ) Given New $71.00 Price Target at Citigroup

Mondelez International (NASDAQ:MDLZ - Get Free Report) had its price target lowered by stock analysts at Citigroup from $78.00 to $71.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 21.80% from the company's current price.

A number of other equities analysts also recently weighed in on MDLZ. Evercore ISI boosted their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. Stifel Nicolaus boosted their target price on shares of Mondelez International from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Bank of America increased their target price on shares of Mondelez International from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a report on Tuesday. Finally, Piper Sandler increased their price objective on Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.64.

Mondelez International Price Performance

MDLZ stock remained flat at $58.29 during trading on Wednesday. 8,330,810 shares of the company's stock were exchanged, compared to its average volume of 8,420,057. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The stock has a market cap of $77.95 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. Mondelez International has a twelve month low of $57.67 and a twelve month high of $77.20. The stock has a 50 day moving average price of $63.27 and a 200 day moving average price of $67.78.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.11 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Mondelez International's quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Mondelez International will post 3.48 earnings per share for the current fiscal year.

Mondelez International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Trading of Mondelez International

Several institutional investors and hedge funds have recently bought and sold shares of MDLZ. Truvestments Capital LLC bought a new stake in shares of Mondelez International during the 3rd quarter worth $25,000. Prospera Private Wealth LLC purchased a new stake in Mondelez International during the third quarter valued at about $27,000. Richardson Financial Services Inc. lifted its stake in Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of Mondelez International in the 3rd quarter worth about $38,000. Finally, Hara Capital LLC bought a new position in shares of Mondelez International during the 3rd quarter valued at about $45,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

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.