The Goldman Sachs Group Lowers Mondelez International (NASDAQ:MDLZ) Price Target to $68.00

Mondelez International (NASDAQ:MDLZ - Get Free Report) had its target price lowered by investment analysts at The Goldman Sachs Group from $79.00 to $68.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 19.09% from the company's previous close.

MDLZ has been the topic of a number of other reports. Bank of America increased their price objective on Mondelez International from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Piper Sandler raised their price target on Mondelez International from $74.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. 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. Evercore ISI upped their target price on shares of Mondelez International from $79.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and set a $61.00 price target (down previously from $74.00) on shares of Mondelez International in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.79.

Mondelez International Price Performance

NASDAQ MDLZ traded up $0.93 on Tuesday, hitting $57.10. 10,311,624 shares of the company were exchanged, compared to its average volume of 10,156,806. Mondelez International has a 1-year low of $55.97 and a 1-year high of $77.20. The firm has a 50 day moving average of $62.11 and a two-hundred day moving average of $67.44. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market cap of $76.35 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.80 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.14. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.11 billion. During the same period in the prior year, the business earned $0.82 earnings per share. Mondelez International's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that Mondelez International will post 3.48 EPS for the current year.

Mondelez International announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows 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 stock is undervalued.

Hedge Funds Weigh In On Mondelez International

Several institutional investors have recently modified their holdings of the business. Truvestments Capital LLC acquired a new stake in shares of Mondelez International in the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC bought a new position in shares of Mondelez International during the third quarter worth about $27,000. Richardson Financial Services Inc. raised its position in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company's stock valued at $28,000 after buying an additional 200 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in Mondelez International in the 3rd quarter valued at approximately $38,000. Finally, Hara Capital LLC acquired a new position in Mondelez International during the 3rd quarter worth approximately $45,000. Institutional investors own 78.32% of the company's stock.

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.