Zacks Investment Research upgraded shares of Mondelez International (NASDAQ:MDLZ) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $48.00 target price on the stock.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. The company's margins have remained constantly strong backed by cost savings and productivity gains. Although shares of Mondelez underperfomed the industry in the last one year, its earnings estimates for 2018 have been trending upward in the last 30 days. This reflects analysts' optimism on the stock's prospect. However, Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand. Moreover, with a significant portion of its sales coming from the international markets, currency is a significant top-line headwind.”
A number of other brokerages have also issued reports on MDLZ. Piper Jaffray Companies reissued a buy rating and set a $49.00 target price on shares of Mondelez International in a research note on Tuesday, September 19th. Susquehanna Bancshares set a $45.00 target price on shares of Mondelez International and gave the company a hold rating in a research note on Monday, October 30th. Credit Suisse Group boosted their target price on shares of Mondelez International from $46.00 to $48.00 and gave the company an outperform rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Mondelez International from $44.00 to $45.00 and gave the company an overweight rating in a research note on Wednesday, November 1st. Finally, BidaskClub raised shares of Mondelez International from a strong sell rating to a sell rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $49.43.
Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Monday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. The firm had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.45 billion. Mondelez International had a net margin of 8.61% and a return on equity of 12.31%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. equities analysts forecast that Mondelez International will post 2.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Friday, December 29th were issued a $0.22 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. Mondelez International’s payout ratio is currently 61.11%.
In other news, Director Lewis W. K. Booth acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $41.29 per share, for a total transaction of $61,935.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia Trust Co. bought a new position in Mondelez International in the third quarter worth about $113,000. Acrospire Investment Management LLC raised its holdings in Mondelez International by 1,450.0% in the second quarter. Acrospire Investment Management LLC now owns 3,100 shares of the company’s stock worth $134,000 after purchasing an additional 2,900 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Mondelez International by 2,056.3% in the second quarter. Chicago Partners Investment Group LLC now owns 3,601 shares of the company’s stock worth $157,000 after purchasing an additional 3,434 shares in the last quarter. Rockefeller Financial Services Inc. raised its holdings in Mondelez International by 300.0% in the third quarter. Rockefeller Financial Services Inc. now owns 4,000 shares of the company’s stock worth $163,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Mondelez International by 232.4% in the third quarter. Tortoise Investment Management LLC now owns 4,291 shares of the company’s stock worth $174,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.
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Mondelez International Company Profile
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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