Mondelez International (NASDAQ:MDLZ) Rating Lowered to Hold at Argus

Mondelez International (NASDAQ:MDLZ) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

A number of other research analysts have also weighed in on the company. UBS Group cut their price objective on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company cut their price objective on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Citigroup cut their price objective on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada cut their price objective on Mondelez International from $75.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group dropped their target price on Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Mondelez International presently has a consensus rating of “Moderate Buy” and an average price target of $69.74.

Mondelez International Trading Up 0.4 %

Shares of NASDAQ:MDLZ opened at $62.17 on Friday. The business’s 50-day moving average is $58.92 and its 200 day moving average is $65.94. Mondelez International has a 1 year low of $53.95 and a 1 year high of $76.06. The firm has a market capitalization of $80.42 billion, a P/E ratio of 18.18, a P/E/G ratio of 4.32 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. On average, research analysts predict that Mondelez International will post 2.9 earnings per share for the current fiscal year.

Mondelez International declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Mondelez International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Czech National Bank lifted its position in shares of Mondelez International by 6.5% in the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock valued at $17,318,000 after acquiring an additional 17,815 shares in the last quarter. Legacy Private Trust Co. lifted its position in Mondelez International by 33.2% during the fourth quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after buying an additional 957 shares in the last quarter. Buckingham Capital Management Inc. lifted its position in Mondelez International by 25.5% during the fourth 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. Kennedy Investment Group purchased a new position in Mondelez International during the fourth quarter worth approximately $313,000. Finally, Rhumbline Advisers lifted its position in Mondelez International by 1.4% during the fourth quarter. Rhumbline Advisers now owns 2,742,126 shares of the company’s stock worth $163,787,000 after buying an additional 37,897 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

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.