Piper Sandler Boosts Mondelez International (NASDAQ:MDLZ) Price Target to $59.00

Mondelez International (NASDAQ:MDLZ) had its price objective boosted by analysts at Piper Sandler from $56.00 to $59.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 12.88% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley started coverage on shares of Mondelez International in a research note on Monday, March 24th. They set an “overweight” rating and a $69.00 price target on the stock. Argus cut shares of Mondelez International from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada cut their price target on shares of Mondelez International from $75.00 to $69.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company dropped their target price on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group decreased their price target on Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Mondelez International currently has an average rating of “Moderate Buy” and an average price target of $69.50.

Mondelez International Trading Up 0.3 %

Shares of NASDAQ:MDLZ opened at $67.72 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $87.60 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 4.34 and a beta of 0.50. Mondelez International has a 1-year low of $53.95 and a 1-year high of $76.06. The company has a 50 day moving average price of $62.25 and a 200 day moving average price of $64.88.

Mondelez International (NASDAQ:MDLZ) last announced 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, research analysts anticipate that Mondelez International will post 2.9 EPS for the current fiscal year.

Mondelez International announced that its board has approved a share buyback plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Mondelez International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd raised its position in shares of Mondelez International by 430.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 92,413 shares of the company’s stock worth $5,520,000 after purchasing an additional 74,975 shares during the last quarter. Czech National Bank increased its stake in Mondelez International by 6.5% during the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock worth $17,318,000 after purchasing an additional 17,815 shares during the period. Buckingham Capital Management Inc. lifted its holdings in Mondelez International by 25.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 93,394 shares of the company’s stock worth $5,578,000 after buying an additional 18,961 shares in the last quarter. Legacy Private Trust Co. grew its stake in Mondelez International by 33.2% during the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after purchasing an additional 957 shares in the last quarter. Finally, Kennedy Investment Group purchased a new stake in shares of Mondelez International in the 4th quarter valued at approximately $313,000. Institutional investors and hedge funds 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.