Piper Sandler Lowers Mondelez International (NASDAQ:MDLZ) Price Target to $70.00

Mondelez International (NASDAQ:MDLZ - Get Free Report) had its target price lowered by research analysts at Piper Sandler from $84.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 20.69% from the company's current price.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Mondelez International from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $78.00 to $67.00 in a research note on Thursday, December 12th. Bank of America raised their price target on Mondelez International from $80.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Citigroup lowered their price objective 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 cut their target price on Mondelez International from $79.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Evercore ISI upped their price target on Mondelez International from $79.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.93.

Mondelez International Stock Performance

NASDAQ:MDLZ traded up $1.36 during mid-day trading on Thursday, hitting $58.00. 10,571,775 shares of the company traded hands, compared to its average volume of 10,066,827. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average price is $61.91 and its 200-day moving average price is $67.36. The firm has a market cap of $77.56 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.99 and a beta of 0.54. Mondelez International has a one year low of $55.97 and a one year high of $77.20.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm's revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. Research analysts anticipate that Mondelez International will post 3.48 earnings per share for the current fiscal year.

Mondelez International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDLZ. Czech National Bank boosted its position in Mondelez International by 6.5% in the 4th quarter. Czech National Bank now owns 289,931 shares of the company's stock valued at $17,318,000 after buying an additional 17,815 shares during the period. Legacy Private Trust Co. raised its stake in shares of Mondelez International by 33.2% during the fourth 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 in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Mondelez International by 1,904.9% in the third quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company's stock valued at $31,369,000 after purchasing an additional 404,567 shares during the period. Kingsview Wealth Management LLC grew its stake in Mondelez International by 14.3% in the third quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company's stock worth $8,430,000 after purchasing an additional 14,278 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Mondelez International by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 249,067 shares of the company's stock worth $18,349,000 after purchasing an additional 25,833 shares during the period. 78.32% of the stock is currently owned by 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.