Mondelez International (NASDAQ:MDLZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, May 7th.
According to Zacks, “Mondelez reported first-quarter 2018 results, with earnings and revenues beating the consensus mark. The company posted impressive results on the back of strong performance in Asia, Middle East & Africa and Europe. Adjusted earnings grew 9.6%, primarily driven by favorability on interest and less number of shares outstanding. Net revenues increased 5.5 % driven by currency tailwinds. Emerging markets’ net revenues rose 7.6% and the same for Power Brands rose 8.2%. Regionally, Asia, Middle East & Africa and Europe registered an increase of 3.4% and 14.4% in revenues, respectively. However, revenues in the North America and Latin America declined 1.3% and 2.1%, respectively. Also, gross margin was down 110 basis points (bps) due to unfavorable mix, higher commodity costs and freight inflation.”
Several other equities analysts also recently commented on MDLZ. Piper Jaffray set a $50.00 price objective on shares of Mondelez International and gave the company a “buy” rating in a research note on Thursday, January 18th. Susquehanna Bancshares reissued a “hold” rating and issued a $48.00 price target on shares of Mondelez International in a research note on Tuesday, January 30th. Morgan Stanley raised their target price on shares of Mondelez International from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Bank of America raised their target price on shares of Mondelez International from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Societe Generale upgraded shares of Mondelez International from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $55.00 in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $49.53.
Mondelez International stock opened at $39.22 on Monday. Mondelez International has a fifty-two week low of $39.18 and a fifty-two week high of $39.43. The firm has a market capitalization of $57.87 billion, a PE ratio of 17.51, a PEG ratio of 1.34 and a beta of 0.87. The company has a current ratio of 0.50, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Mondelez International had a net margin of 12.31% and a return on equity of 13.04%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. sell-side analysts anticipate that Mondelez International will post 2.45 earnings per share for the current year.
Mondelez International announced that its board has initiated a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Mondelez International news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of $43.90 per share, with a total value of $87,800.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. purchased 1,028,600 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were purchased at an average cost of $44.27 per share, for a total transaction of $45,536,122.00. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new position in Mondelez International during the fourth quarter valued at $127,000. Taylor Hoffman Wealth Management acquired a new stake in shares of Mondelez International in the fourth quarter valued at about $144,000. Banco de Sabadell S.A acquired a new stake in shares of Mondelez International in the fourth quarter valued at about $148,000. Delpha Capital Management LLC acquired a new stake in shares of Mondelez International in the fourth quarter valued at about $152,000. Finally, Truewealth LLC acquired a new stake in shares of Mondelez International in the fourth quarter valued at about $170,000. 75.98% of the stock is currently owned by institutional investors and hedge funds.
Mondelez International Company Profile
Mondelez International, Inc, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; gums and candies; coffee and powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages.
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