Mondelez International (NASDAQ:MDLZ) Shares Gap Up After Analyst Upgrade

Mondelez International, Inc. (NASDAQ:MDLZ - Get Free Report) shares gapped up before the market opened on Thursday after Wells Fargo & Company raised their price target on the stock from $64.00 to $68.00. The stock had previously closed at $66.13, but opened at $67.69. Wells Fargo & Company currently has an equal weight rating on the stock. Mondelez International shares last traded at $67.53, with a volume of 1,256,329 shares changing hands.

Several other analysts have also recently commented on the stock. Dbs Bank cut shares of Mondelez International from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 7th. Citigroup lowered their price objective on Mondelez International from $78.00 to $71.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on Mondelez International from $75.00 to $69.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Morgan Stanley assumed coverage on Mondelez International in a report on Monday, March 24th. They issued an "overweight" rating and a $69.00 price target for the company. Finally, Argus downgraded shares of Mondelez International from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Mondelez International currently has a consensus rating of "Moderate Buy" and an average price target of $70.20.

Institutional Investors Weigh In On Mondelez International

A number of hedge funds have recently bought and sold shares of MDLZ. Norges Bank acquired a new stake in shares of Mondelez International during the fourth quarter worth approximately $1,118,755,000. Capital Research Global Investors boosted its stake in Mondelez International by 13.9% during the 4th quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock valued at $2,241,637,000 after acquiring an additional 4,572,555 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mondelez International during the 4th quarter worth $256,832,000. Van ECK Associates Corp increased its position in shares of Mondelez International by 2,560.0% in the 4th quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company's stock worth $203,749,000 after purchasing an additional 3,282,937 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Mondelez International by 17.1% in the 4th quarter. Deutsche Bank AG now owns 13,734,080 shares of the company's stock valued at $820,337,000 after purchasing an additional 2,002,640 shares in the last quarter. Institutional investors and hedge funds own 78.32% of the company's stock.

Mondelez International Stock Down 0.2 %

The firm has a market cap of $84.24 billion, a P/E ratio of 19.06, a PEG ratio of 4.34 and a beta of 0.47. The firm's 50-day moving average price is $63.39 and its 200 day moving average price is $64.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Mondelez International had a return on equity of 16.75% and a net margin of 12.68%. On average, equities research analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, March 31st. Mondelez International's payout ratio is 54.97%.

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

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.