Mondelez International (NASDAQ:MDLZ) Trading Up 1.3% – Here’s What Happened

Mondelez International, Inc. (NASDAQ:MDLZ) shares were up 1.3% on Friday . The company traded as high as $58.72 and last traded at $58.61. Approximately 3,821,640 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 10,799,660 shares. The stock had previously closed at $57.83.

Analysts Set New Price Targets

Several equities analysts recently commented on MDLZ shares. Piper Sandler lowered shares of Mondelez International from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $63.00 in a report on Friday, January 31st. Jefferies Financial Group downgraded Mondelez International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $62.00 in a report on Tuesday, January 21st. Citigroup reduced their price target on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Bank of America lifted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.72.

Mondelez International Stock Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. The company has a market capitalization of $78.16 billion, a PE ratio of 20.73, a PEG ratio of 3.12 and a beta of 0.54. The company has a 50 day moving average of $59.47 and a two-hundred day moving average of $66.41.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. As a group, equities research analysts predict that Mondelez International, Inc. will post 3.44 earnings per share for the current year.

Mondelez International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Tuesday, December 31st. Mondelez International’s payout ratio is 66.67%.

Mondelez International announced that its board has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Mondelez International

Large investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. boosted its stake in Mondelez International by 16.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock valued at $78,000 after purchasing an additional 150 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in shares of Mondelez International by 1.4% during the third quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after purchasing an additional 151 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of Mondelez International by 1.3% during the third quarter. SeaCrest Wealth Management LLC now owns 12,130 shares of the company’s stock valued at $894,000 after buying an additional 156 shares during the last quarter. Canopy Partners LLC increased its holdings in Mondelez International by 1.2% in the 3rd quarter. Canopy Partners LLC now owns 13,335 shares of the company’s stock worth $982,000 after buying an additional 161 shares in the last quarter. Finally, Hardy Reed LLC raised its position in Mondelez International by 1.4% in the 3rd quarter. Hardy Reed LLC now owns 11,511 shares of the company’s stock worth $848,000 after buying an additional 161 shares during 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.