Mondelez International, Inc. (MDLZ) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Mondelez International, Inc. (NASDAQ:MDLZ) from a hold rating to a buy rating in a research report report published on Tuesday. The firm currently has $46.00 target price on the stock.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. Mondelez’s margins have remained constantly strong backed by cost savings and productivity gains. Also, shares of the company outperformed its industry year to date. The company has a mostly positive record of earnings surprises in recent quarters. However, Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand. Moreover, with a significant portion of its sales coming from the international markets, currency is a significant top-line headwind.”
A number of other research firms have also recently issued reports on MDLZ. BidaskClub cut Mondelez International from a hold rating to a sell rating in a report on Tuesday, June 13th. Credit Suisse Group AG reaffirmed a buy rating and issued a $50.00 price target on shares of Mondelez International in a report on Tuesday, June 13th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $53.00 price target (down from $54.00) on shares of Mondelez International in a report on Monday, July 31st. J P Morgan Chase & Co reaffirmed an overweight rating and issued a $49.00 price target (down from $50.00) on shares of Mondelez International in a report on Wednesday, June 28th. Finally, Piper Jaffray Companies raised Mondelez International from a neutral rating to an overweight rating and lifted their price target for the company from $48.00 to $49.00 in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $50.54.
Shares of Mondelez International (NASDAQ:MDLZ) traded up 0.07% during trading on Tuesday, reaching $41.13. 5,047,080 shares of the company were exchanged. Mondelez International has a 52-week low of $40.04 and a 52-week high of $47.23. The stock has a market capitalization of $62.01 billion, a P/E ratio of 36.17 and a beta of 1.20. The stock has a 50-day moving average of $41.21 and a 200 day moving average of $43.70.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.98 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Mondelez International will post $2.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be given a dividend of $0.22 per share. This is a positive change from Mondelez International’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 28th. Mondelez International’s payout ratio is presently 77.19%.
In other news, EVP Maurizio Brusadelli sold 6,248 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total transaction of $273,412.48. Following the completion of the transaction, the executive vice president now directly owns 61,651 shares in the company, valued at approximately $2,697,847.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel P. Myers sold 7,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $40.94, for a total value of $286,580.00. Following the transaction, the executive vice president now owns 20,965 shares of the company’s stock, valued at $858,307.10. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC grew its position in shares of Mondelez International by 637.3% during the 1st quarter. Proficio Capital Partners LLC now owns 2,271 shares of the company’s stock worth $105,000 after buying an additional 1,963 shares during the period. V Wealth Management LLC acquired a new position in shares of Mondelez International during the 2nd quarter worth about $116,000. Acrospire Investment Management LLC grew its position in shares of Mondelez International by 1,450.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,100 shares of the company’s stock worth $134,000 after buying an additional 2,900 shares during the period. Assetmark Inc. grew its position in shares of Mondelez International by 13.5% during the 1st quarter. Assetmark Inc. now owns 3,367 shares of the company’s stock worth $145,000 after buying an additional 401 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in shares of Mondelez International by 2,056.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,601 shares of the company’s stock worth $157,000 after buying an additional 3,434 shares during the period. Institutional investors own 75.84% of the company’s stock.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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