Mondelez International, Inc. (NASDAQ:MDLZ – Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $58.71 and last traded at $58.74, with a volume of 3731612 shares changing hands. The stock had previously closed at $59.86.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on MDLZ. Piper Sandler raised their price objective on Mondelez International from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Mondelez International from a “buy” rating to a “hold” rating and dropped their target price for the company from $78.00 to $67.00 in a research report on Thursday, December 12th. Stifel Nicolaus increased their target price on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Evercore ISI lifted their price objective on Mondelez International from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Bank of America boosted their price target on Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.64.
View Our Latest Stock Report on MDLZ
Mondelez International Stock Performance
Mondelez International (NASDAQ:MDLZ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.11 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that Mondelez International, Inc. will post 3.48 earnings per share for the current year.
Mondelez International Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.23%. The ex-dividend date is Tuesday, December 31st. Mondelez International’s payout ratio is 66.67%.
Mondelez International declared that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Hedge Funds Weigh In On Mondelez International
A number of large investors have recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new position in shares of Mondelez International during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new position in Mondelez International in the 3rd quarter worth $27,000. Richardson Financial Services Inc. boosted its stake in shares of Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of Mondelez International during the third quarter valued at about $38,000. Finally, Hara Capital LLC bought a new position in Mondelez International in the third quarter worth about $45,000. 78.32% of the stock is owned by hedge funds and other 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.
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