Mondelez International (NASDAQ:MDLZ) Given New $54.00 Price Target at Wells Fargo & Company

Mondelez International (NASDAQ:MDLZ) had its target price reduced by Wells Fargo & Company from $61.00 to $54.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

MDLZ has been the subject of several other research reports. The Goldman Sachs Group lowered their price objective on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Redburn Atlantic started coverage on shares of Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price target for the company. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $63.00 in a report on Friday, January 31st. UBS Group lowered their target price on Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Bank of America upped their price target on Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Mondelez International currently has a consensus rating of “Moderate Buy” and an average price target of $72.35.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $57.43 on Wednesday. The stock has a market capitalization of $76.79 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. Mondelez International has a 1 year low of $53.95 and a 1 year high of $76.06. The firm has a 50 day moving average of $59.76 and a 200-day moving average of $66.53.

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

Mondelez International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Tuesday, December 31st. Mondelez International’s dividend payout ratio is currently 66.67%.

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

Hedge Funds Weigh In On Mondelez International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in Mondelez International during the third quarter worth about $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Mondelez International during the third quarter worth about $27,000. Richardson Financial Services Inc. lifted its holdings in shares of Mondelez International by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Mondelez International in the 4th quarter valued at approximately $26,000. Finally, Hager Investment Management Services LLC bought a new stake in Mondelez International during the 4th quarter worth approximately $27,000. 78.32% of the stock is owned by institutional investors.

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.