Mondelez International (NASDAQ:MDLZ) Price Target Lowered to $62.00 at Wells Fargo & Company

Mondelez International (NASDAQ:MDLZ) had its target price cut by stock analysts at Wells Fargo & Company from $72.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 15.79% from the stock’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their target price on Mondelez International from $74.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Mondelez International in a research note on Tuesday, October 14th. Piper Sandler cut their price target on shares of Mondelez International from $63.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Evercore ISI cut their price objective on Mondelez International from $73.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Finally, Stifel Nicolaus reduced their target price on shares of Mondelez International from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.05.

Mondelez International Stock Down 0.2%

NASDAQ:MDLZ traded down $0.10 on Monday, hitting $53.55. The stock had a trading volume of 9,244,913 shares, compared to its average volume of 9,798,635. Mondelez International has a 52 week low of $52.79 and a 52 week high of $71.15. The business’s fifty day moving average is $55.81 and its 200 day moving average is $61.30. The company has a quick ratio of 0.37, a current ratio of 0.61 and a debt-to-equity ratio of 0.65. The company has a market cap of $69.09 billion, a PE ratio of 20.04 and a beta of 0.39.

Mondelez International (NASDAQ:MDLZ) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 EPS for the quarter. The business had revenue of $7.30 billion during the quarter. Mondelez International had a net margin of 9.38% and a return on equity of 14.16%. On average, equities research analysts expect that Mondelez International will post 2.9 EPS for the current fiscal year.

Institutional Trading of Mondelez International

Several hedge funds and other institutional investors have recently made changes to their positions in MDLZ. Norges Bank purchased a new position in shares of Mondelez International in the 2nd quarter worth $1,239,834,000. JPMorgan Chase & Co. lifted its holdings in Mondelez International by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 69,588,126 shares of the company’s stock valued at $4,347,170,000 after acquiring an additional 10,137,457 shares during the period. Capital International Investors boosted its position in Mondelez International by 9.7% in the third quarter. Capital International Investors now owns 78,561,316 shares of the company’s stock worth $4,907,892,000 after purchasing an additional 6,958,868 shares during the last quarter. First Trust Advisors LP boosted its position in Mondelez International by 197.9% in the second quarter. First Trust Advisors LP now owns 4,066,155 shares of the company’s stock worth $274,221,000 after purchasing an additional 2,701,229 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Mondelez International by 103.2% during the 3rd quarter. Van ECK Associates Corp now owns 5,192,301 shares of the company’s stock valued at $324,363,000 after purchasing an additional 2,637,287 shares during the period. Hedge funds and other institutional investors own 78.32% of the company’s stock.

About Mondelez International

Mondelez International is a global snacks company headquartered in Chicago, Illinois, formed in 2012 when Kraft Foods split to create a business focused on snack foods and a separate North American grocery company. Mondelez develops, manufactures, markets and distributes a broad portfolio of snack products intended for retail, foodservice and e‑commerce channels around the world.

The company’s product mix centers on biscuits and cookies, chocolate and confectionery, gum and candy, and savory crackers and baked snacks.