Mondelez International (NASDAQ:MDLZ) Price Target Lowered to $60.00 at The Goldman Sachs Group

Mondelez International (NASDAQ:MDLZ) had its price objective dropped by analysts at The Goldman Sachs Group from $68.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 4.48% from the company’s current price.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lowered their target price on Mondelez International from $61.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday. Jefferies Financial Group lowered Mondelez International from a “buy” rating to a “hold” rating and lowered their target price for the company from $75.00 to $62.00 in a report on Tuesday, January 21st. Redburn Atlantic began coverage on Mondelez International in a report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Stifel Nicolaus decreased their price objective on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, UBS Group decreased their price objective on Mondelez International from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.76.

Mondelez International Stock Performance

Shares of MDLZ stock traded down $0.00 during trading on Thursday, reaching $57.43. The company had a trading volume of 6,002,748 shares, compared to its average volume of 10,766,003. The firm’s 50 day simple moving average is $59.61 and its two-hundred day simple moving average is $66.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42. Mondelez International has a one year low of $53.95 and a one year high of $76.06. The company has a market capitalization of $76.79 billion, a PE ratio of 20.37, a PEG ratio of 3.12 and a beta of 0.54.

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

Mondelez International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mizuho Securities USA LLC increased its holdings in Mondelez International by 12,057.4% in the third quarter. Mizuho Securities USA LLC now owns 12,574,000 shares of the company’s stock valued at $926,327,000 after purchasing an additional 12,470,573 shares during the last quarter. Van ECK Associates Corp increased its holdings in Mondelez International by 2,560.0% in the fourth quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock valued at $203,749,000 after purchasing an additional 3,282,937 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in Mondelez International in the third quarter valued at about $219,045,000. FMR LLC increased its holdings in Mondelez International by 14.2% in the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock valued at $1,344,894,000 after purchasing an additional 2,268,639 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in Mondelez International in the third quarter valued at about $159,823,000. Institutional investors own 78.32% of the company’s stock.

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.