Mondelez International (NASDAQ:MDLZ) Given Outperform Rating at Royal Bank of Canada

Mondelez International (NASDAQ:MDLZ - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $75.00 price objective on the stock. Royal Bank of Canada's price objective indicates a potential upside of 29.56% from the company's current price.

Several other equities research analysts also recently issued reports on the company. Piper Sandler dropped their target price on Mondelez International from $84.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group downgraded Mondelez International from a "buy" rating to a "hold" rating and dropped their target price for the stock from $75.00 to $62.00 in a research report on Tuesday, January 21st. Citigroup dropped their target price on Mondelez International from $78.00 to $71.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on Mondelez International from $79.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Stifel Nicolaus lowered their price objective on Mondelez International from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.18.

Mondelez International Stock Performance

NASDAQ MDLZ traded up $0.76 on Thursday, hitting $57.89. 1,737,935 shares of the stock traded hands, compared to its average volume of 9,926,787. The business's fifty day moving average is $60.34 and its two-hundred day moving average is $66.77. Mondelez International has a 12 month low of $55.97 and a 12 month high of $77.20. The firm has a market capitalization of $77.41 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.96 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 earnings per share 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 business 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 earned $0.82 earnings per share. Mondelez International's revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Mondelez International will post 3.45 EPS for the current fiscal year.

Mondelez International announced that its board has initiated a stock buyback program on Wednesday, December 11th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors 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 purchased a new position in shares of Mondelez International during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Mondelez International during the third quarter valued at approximately $27,000. Richardson Financial Services Inc. lifted its holdings in shares of Mondelez International by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Mondelez International during the fourth quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Mondelez International during the third quarter valued at approximately $38,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

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.

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