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

Shares of Mondelez International, Inc. (NASDAQ:MDLZ - Get Free Report) gapped up prior to trading 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 trading hands.

MDLZ has been the topic of several other research reports. Piper Sandler raised their price target on Mondelez International from $56.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Morgan Stanley initiated coverage on shares of Mondelez International in a research note on Monday, March 24th. They set an "overweight" rating and a $69.00 target price for the company. Citigroup cut their price target on Mondelez International from $78.00 to $71.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Mizuho lifted their target price on Mondelez International from $64.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Finally, Barclays reduced their price objective on shares of Mondelez International from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Mondelez International presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.20.

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Institutional Trading of Mondelez International

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Investment Management LLC acquired a new position in Mondelez International in the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new position in Mondelez International during the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in shares of Mondelez International in the fourth quarter worth about $30,000. Orion Capital Management LLC acquired a new position in shares of Mondelez International during the 4th quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Mondelez International during the fourth quarter worth approximately $31,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Stock Performance

The firm has a fifty day simple moving average of $63.25 and a 200 day simple moving average of $64.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $85.77 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 4.34 and a beta of 0.47.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.47 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.84%. Mondelez International's dividend payout ratio is 54.97%.

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

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.