Wells Fargo & Company Reiterates “Equal Weight” Rating for Mondelez International (NASDAQ:MDLZ)

Mondelez International (NASDAQ:MDLZ)‘s stock had its “equal weight” rating reissued by investment analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $61.00 target price on the stock, down from their prior target price of $74.00. Wells Fargo & Company‘s target price suggests a potential upside of 4.65% from the stock’s current price.

Several other research firms have also commented on MDLZ. Deutsche Bank Aktiengesellschaft lowered shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their price target for the company from $78.00 to $67.00 in a research report on Thursday, December 12th. Stifel Nicolaus upped their target price on shares of Mondelez International from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup dropped their price target on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI upped their price objective on Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic began coverage on Mondelez International in a research report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.64.

Mondelez International Price Performance

MDLZ opened at $58.29 on Tuesday. Mondelez International has a twelve month low of $57.67 and a twelve month high of $77.20. 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 firm has a 50 day moving average price of $63.04 and a 200-day moving average price of $67.71. The stock has a market capitalization of $77.95 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.80 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Mondelez International will post 3.48 earnings per share for the current year.

Mondelez International declared that its board has approved 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 leadership believes its shares are undervalued.

Institutional Trading of Mondelez International

Several hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC bought a new stake in shares of Mondelez International in the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in Mondelez International in the third quarter worth $27,000. Richardson Financial Services Inc. lifted its position in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in Mondelez International during the third quarter worth $38,000. Finally, Hara Capital LLC bought a new position in Mondelez International during the third quarter valued at $45,000. 78.32% of the stock is currently owned by hedge funds and other 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.