Mondelez International (NASDAQ:MDLZ) Price Target Cut to $54.00 by Analysts at Wells Fargo & Company

Mondelez International (NASDAQ:MDLZ) had its price objective decreased by research analysts at Wells Fargo & Company from $61.00 to $54.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 4.52% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group cut Mondelez International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $62.00 in a research note on Tuesday, January 21st. Citigroup reduced their price target on Mondelez International from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler downgraded Mondelez International from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $63.00 in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, January 22nd. Finally, Bank of America lifted their target price on shares of Mondelez International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mondelez International currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.35.

Mondelez International Price Performance

Shares of MDLZ traded up $0.44 during midday trading on Wednesday, reaching $56.56. The stock had a trading volume of 5,126,759 shares, compared to its average volume of 10,033,460. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $75.63 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54. The company’s 50-day moving average is $59.76 and its 200 day moving average is $66.53. Mondelez International has a 12-month low of $53.95 and a 12-month high of $76.06.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results 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 return on equity of 17.53% and a net margin of 10.58%. On average, equities analysts predict that Mondelez International will post 3.44 EPS for the current fiscal year.

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

Institutional Trading of Mondelez International

A number of hedge funds have recently modified their holdings of MDLZ. Axiom Advisory LLC grew its holdings in Mondelez International by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 9,152 shares of the company’s stock valued at $643,000 after buying an additional 143 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Mondelez International by 16.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,058 shares of the company’s stock worth $78,000 after acquiring an additional 150 shares during the last quarter. Carnegie Investment Counsel grew its holdings in Mondelez International by 1.4% in the third quarter. Carnegie Investment Counsel now owns 11,007 shares of the company’s stock valued at $811,000 after purchasing an additional 151 shares during the period. SeaCrest Wealth Management LLC grew its holdings in Mondelez International by 1.3% in the third quarter. SeaCrest Wealth Management LLC now owns 12,130 shares of the company’s stock valued at $894,000 after purchasing an additional 156 shares during the period. Finally, Canopy Partners LLC increased its position in Mondelez International by 1.2% during the third quarter. Canopy Partners LLC now owns 13,335 shares of the company’s stock worth $982,000 after purchasing an additional 161 shares during the last quarter. 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.