Bank of America Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $62.00

Mondelez International (NASDAQ:MDLZ) had its price objective decreased by Bank of America from $69.00 to $62.00 in a report issued on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

MDLZ has been the subject of several other research reports. DZ Bank upgraded shares of Mondelez International from a “sell” rating to a “buy” rating in a report on Thursday, October 30th. Zacks Research downgraded shares of Mondelez International from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. UBS Group dropped their price objective on Mondelez International from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Mondelez International from $74.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Mondelez International in a research note on Tuesday, October 14th. Fourteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mondelez International has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Mondelez International Stock Performance

NASDAQ MDLZ opened at $54.50 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.61 and a quick ratio of 0.37. The company has a market cap of $70.32 billion, a P/E ratio of 20.41 and a beta of 0.39. The stock has a 50-day moving average of $57.28 and a two-hundred day moving average of $62.17. Mondelez International has a 1-year low of $53.13 and a 1-year high of $71.15.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 earnings per share (EPS) for the quarter. The business had revenue of $7.30 billion for the quarter. Mondelez International had a net margin of 9.38% and a return on equity of 14.16%. As a group, analysts anticipate that Mondelez International will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Mondelez International’s dividend payout ratio (DPR) is presently 74.91%.

Institutional Investors Weigh In On Mondelez International

Several large investors have recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Mondelez International by 92.4% in the fourth quarter. Brighton Jones LLC now owns 14,631 shares of the company’s stock valued at $874,000 after acquiring an additional 7,025 shares in the last quarter. Wellington Management Group LLP lifted its position in Mondelez International by 46.7% in the first quarter. Wellington Management Group LLP now owns 571,759 shares of the company’s stock valued at $38,794,000 after purchasing an additional 182,026 shares during the period. EntryPoint Capital LLC purchased a new stake in Mondelez International in the 1st quarter valued at approximately $268,000. T. Rowe Price Investment Management Inc. increased its position in Mondelez International by 36.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 13,071 shares of the company’s stock worth $887,000 after purchasing an additional 3,484 shares during the period. Finally, United Asset Strategies Inc. increased its position in Mondelez International by 3.1% during the 1st quarter. United Asset Strategies Inc. now owns 15,308 shares of the company’s stock worth $1,039,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Mondelez International Company Profile

Mondelez International is a global snacks company headquartered in Chicago, Illinois, formed in 2012 when Kraft Foods split to create a business focused on snack foods and a separate North American grocery company. Mondelez develops, manufactures, markets and distributes a broad portfolio of snack products intended for retail, foodservice and e‑commerce channels around the world.

The company’s product mix centers on biscuits and cookies, chocolate and confectionery, gum and candy, and savory crackers and baked snacks.