Mondelez International (NASDAQ:MDLZ) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Mondelez International (NASDAQ:MDLZ - Free Report) in a research report released on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $69.00 price target on the stock.

A number of other research firms have also recently issued reports on MDLZ. Citigroup cut their price objective on Mondelez International from $78.00 to $71.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Mizuho increased their price target on shares of Mondelez International from $64.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Dbs Bank downgraded shares of Mondelez International from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Mondelez International from $75.00 to $69.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their target price on shares of Mondelez International from $61.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Mondelez International currently has an average rating of "Moderate Buy" and a consensus target price of $69.70.

Remove Ads

Mondelez International Price Performance

MDLZ traded down $0.26 on Monday, reaching $64.69. The company had a trading volume of 7,459,041 shares, compared to its average volume of 7,510,715. Mondelez International has a 52-week low of $53.95 and a 52-week high of $76.06. The company has a market cap of $83.68 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 4.34 and a beta of 0.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68. The business has a 50 day simple moving average of $61.67 and a 200 day simple moving average of $64.91.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. As a group, sell-side analysts anticipate that Mondelez International will post 2.9 EPS for the current year.

Mondelez International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Mondelez International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 2.91%. Mondelez International's dividend payout ratio (DPR) is presently 54.97%.

Hedge Funds Weigh In On Mondelez International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ICICI Prudential Asset Management Co Ltd raised its holdings in Mondelez International by 430.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company's stock worth $5,520,000 after purchasing an additional 74,975 shares in the last quarter. Czech National Bank grew its position in shares of Mondelez International by 6.5% in the 4th quarter. Czech National Bank now owns 289,931 shares of the company's stock worth $17,318,000 after buying an additional 17,815 shares during the period. Buckingham Capital Management Inc. increased its stake in shares of Mondelez International by 25.5% in the 4th quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company's stock worth $5,578,000 after acquiring an additional 18,961 shares in the last quarter. Legacy Private Trust Co. lifted its position in Mondelez International by 33.2% during the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company's stock valued at $229,000 after acquiring an additional 957 shares during the period. Finally, Kennedy Investment Group bought a new stake in Mondelez International during the fourth quarter worth about $313,000. Hedge funds and other institutional investors own 78.32% of the company's stock.

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.