JPMorgan Chase & Co. Raises Mondelez International (NASDAQ:MDLZ) Price Target to $73.00

Mondelez International (NASDAQ:MDLZ) had its price objective increased by JPMorgan Chase & Co. from $72.00 to $73.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI cut their price target on shares of Mondelez International from $80.00 to $79.00 and set an outperform rating on the stock in a research note on Tuesday, June 4th. Citigroup dropped their price objective on shares of Mondelez International from $87.00 to $84.00 and set a buy rating for the company in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Mondelez International from $78.00 to $75.00 and set a buy rating for the company in a research report on Wednesday, July 17th. DA Davidson dropped their price objective on shares of Mondelez International from $80.00 to $75.00 and set a buy rating for the company in a research report on Wednesday. Finally, Piper Sandler increased their price objective on shares of Mondelez International from $76.00 to $78.00 and gave the stock an overweight rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Mondelez International currently has an average rating of Moderate Buy and a consensus price target of $79.06.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $70.68 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company has a market cap of $94.81 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.76 and a beta of 0.53. Mondelez International has a fifty-two week low of $60.75 and a fifty-two week high of $77.20. The firm’s 50 day moving average is $66.81 and its two-hundred day moving average is $69.82.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.45 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. Mondelez International’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. Analysts expect that Mondelez International will post 3.49 EPS for the current year.

Mondelez International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.47 per share. This is a positive change from Mondelez International’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 2.66%. The ex-dividend date is Monday, September 30th. Mondelez International’s dividend payout ratio (DPR) is currently 53.97%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MDLZ. Miracle Mile Advisors LLC bought a new position in shares of Mondelez International in the 4th quarter worth about $660,000. Colonial River Wealth Management LLC bought a new position in shares of Mondelez International in the 4th quarter worth about $222,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Mondelez International by 10.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,076 shares of the company’s stock worth $295,000 after buying an additional 392 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Mondelez International by 623.5% in the 4th quarter. Venturi Wealth Management LLC now owns 12,597 shares of the company’s stock worth $912,000 after buying an additional 10,856 shares during the last quarter. Finally, StrategIQ Financial Group LLC lifted its position in Mondelez International by 2.4% in the 4th quarter. StrategIQ Financial Group LLC now owns 12,652 shares of the company’s stock valued at $916,000 after purchasing an additional 300 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors.

About Mondelez International

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.