Mondelez International (NASDAQ:MDLZ) Price Target Cut to $78.00 by Analysts at Wells Fargo & Company

Mondelez International (NASDAQ:MDLZ) had its target price trimmed by Wells Fargo & Company from $82.00 to $78.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

MDLZ has been the subject of several other research reports. Sanford C. Bernstein reduced their price target on shares of Mondelez International from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Barclays reduced their price target on shares of Mondelez International from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, July 19th. DA Davidson reduced their price target on shares of Mondelez International from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Redburn Atlantic started coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 target price for the company. Finally, Piper Sandler reduced their target price on shares of Mondelez International from $76.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and an average target price of $79.94.

Mondelez International Stock Up 0.9 %

Shares of NASDAQ:MDLZ opened at $69.79 on Wednesday. Mondelez International has a 52 week low of $64.18 and a 52 week high of $77.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.68. The company has a market capitalization of $93.23 billion, a PE ratio of 23.98, a PEG ratio of 2.98 and a beta of 0.54. The company has a 50 day moving average price of $72.45 and a two-hundred day moving average price of $69.75.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.11 billion. Mondelez International had a net margin of 10.97% and a return on equity of 16.69%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. Analysts forecast that Mondelez International will post 3.49 earnings per share for the current year.

Hedge Funds Weigh In On Mondelez International

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Mondelez International by 5.4% in the first quarter. Vanguard Group Inc. now owns 130,765,846 shares of the company’s stock valued at $9,153,609,000 after purchasing an additional 6,696,897 shares during the period. Capital Research Global Investors raised its position in shares of Mondelez International by 7.3% in the first quarter. Capital Research Global Investors now owns 32,497,024 shares of the company’s stock valued at $2,274,792,000 after purchasing an additional 2,206,023 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Mondelez International by 40.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,726,114 shares of the company’s stock valued at $1,094,557,000 after purchasing an additional 4,794,746 shares during the period. Legal & General Group Plc raised its position in shares of Mondelez International by 2.6% in the second quarter. Legal & General Group Plc now owns 11,452,735 shares of the company’s stock valued at $749,467,000 after purchasing an additional 293,773 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Mondelez International by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,970,204 shares of the company’s stock valued at $587,094,000 after purchasing an additional 1,071,719 shares during the period. 78.32% of the stock is owned by 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.