Royal Bank of Canada Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $69.00

Mondelez International (NASDAQ:MDLZ) had its price objective lowered by equities researchers at Royal Bank of Canada from $75.00 to $69.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 19.82% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Redburn Atlantic initiated coverage on shares of Mondelez International in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Mondelez International from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group cut their price target on shares of Mondelez International from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group dropped their target price on shares of Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Stifel Nicolaus lowered their price target on shares of Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Mondelez International has an average rating of “Moderate Buy” and an average price target of $71.24.

Mondelez International Stock Performance

MDLZ stock traded up $0.16 during midday trading on Thursday, reaching $57.59. 5,224,131 shares of the company’s stock traded hands, compared to its average volume of 10,731,424. The stock’s 50-day moving average is $59.61 and its 200 day moving average is $66.47. 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 stock has a market cap of $77.00 billion, a P/E ratio of 20.42, a PEG ratio of 3.12 and a beta of 0.54. Mondelez International has a 52-week low of $53.95 and a 52-week high of $76.06.

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 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%. As a group, analysts anticipate that Mondelez International will post 3.44 EPS for the current year.

Mondelez International announced that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Mondelez International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC raised its position in shares of Mondelez International by 12,057.4% in the 3rd 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 in the last quarter. Van ECK Associates Corp raised its position in shares of Mondelez International by 2,560.0% during the 4th quarter. Van ECK Associates Corp now owns 3,411,179 shares of the company’s stock valued at $203,749,000 after acquiring an additional 3,282,937 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in Mondelez International in the third quarter worth $219,045,000. FMR LLC increased its position in Mondelez International by 14.2% in the third quarter. FMR LLC now owns 18,255,657 shares of the company’s stock worth $1,344,894,000 after buying an additional 2,268,639 shares during the period. Finally, Holocene Advisors LP acquired a new position in shares of Mondelez International during the third quarter valued at $159,823,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

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.