Mondelez International (NASDAQ:MDLZ) Price Target Lowered to $69.00 at Royal Bank of Canada

Mondelez International (NASDAQ:MDLZ) had its price objective reduced by investment analysts at Royal Bank of Canada from $75.00 to $69.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 18.05% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Redburn Atlantic initiated coverage on Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price target on the stock. UBS Group lowered their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays cut their price target on Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus cut their target price on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment 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. According to data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and an average price target of $69.72.

Mondelez International Price Performance

NASDAQ MDLZ opened at $58.45 on Thursday. Mondelez International has a one year low of $53.95 and a one year high of $76.06. The stock has a 50-day moving average of $59.47 and a 200 day moving average of $66.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The company has a market capitalization of $78.16 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.12 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. On average, sell-side analysts forecast that Mondelez International will post 3.44 EPS for the current year.

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

Institutional Investors Weigh In On Mondelez International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank lifted its position in Mondelez International by 6.5% in the fourth quarter. Czech National Bank now owns 289,931 shares of the company’s stock worth $17,318,000 after buying an additional 17,815 shares during the last quarter. Legacy Private Trust Co. lifted its holdings in shares of Mondelez International by 33.2% in the 4th quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock worth $229,000 after acquiring an additional 957 shares during the last quarter. Kennedy Investment Group purchased a new position in shares of Mondelez International during the 4th quarter worth about $313,000. Benjamin Edwards Inc. grew its holdings in Mondelez International by 1,904.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 425,805 shares of the company’s stock valued at $31,369,000 after purchasing an additional 404,567 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Mondelez International by 14.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 114,436 shares of the company’s stock worth $8,430,000 after purchasing an additional 14,278 shares during the period. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

Mondelez International Company Profile

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.