Zacks Investment Research upgraded shares of Mondelez International Inc. (NASDAQ:MDLZ) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $48.00 price objective on the stock.
According to Zacks, “Mondelez reported third-quarter 2016 results wherein earnings beat the Zacks Consensus Estimate while revenues missed the same. On a constant currency basis, earnings grew 42.1%, primarily driven by operating gains, strong results from coffee equity income investments and lower taxes. Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. The company is refreshing its brand portfolio through product innovation and extending its brands to newer geographies and platforms. Despite weak sales, Mondelez' margins have remained consistently strong backed by cost savings and productivity gains.”
Other equities research analysts have also recently issued research reports about the stock. Susquehanna reissued a buy rating and issued a $55.00 price target on shares of Mondelez International in a research note on Wednesday, October 26th. Credit Suisse Group AG reissued a buy rating and issued a $51.00 price target on shares of Mondelez International in a research note on Thursday, September 1st. Societe Generale cut shares of Mondelez International from a buy rating to a hold rating and lifted their price target for the company from $35.88 to $43.94 in a research note on Thursday, July 28th. Deutsche Bank AG dropped their price target on shares of Mondelez International from $48.00 to $47.00 and set a hold rating on the stock in a research note on Thursday, July 28th. Finally, RBC Capital Markets reissued an outperform rating and issued a $54.00 price target (up previously from $52.00) on shares of Mondelez International in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $47.21.
Shares of Mondelez International (NASDAQ:MDLZ) opened at 42.50 on Tuesday. The firm has a 50-day moving average price of $42.99 and a 200-day moving average price of $43.72. The stock has a market cap of $65.64 billion, a price-to-earnings ratio of 81.11 and a beta of 1.11. Mondelez International has a 1-year low of $35.88 and a 1-year high of $46.40.
Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Mondelez International had a net margin of 3.16% and a return on equity of 10.88%. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts forecast that Mondelez International will post $1.95 EPS for the current year.
In related news, Director Lewis W. K. Booth acquired 2,500 shares of the stock in a transaction dated Friday, November 11th. The stock was acquired at an average cost of $41.61 per share, with a total value of $104,025.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 3,800,000 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $44.09, for a total value of $167,542,000.00. Following the transaction, the director now directly owns 13,495 shares of the company’s stock, valued at $594,994.55. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in MDLZ. Parkside Financial Bank & Trust increased its position in shares of Mondelez International by 0.6% in the second quarter. Parkside Financial Bank & Trust now owns 3,554 shares of the company’s stock worth $161,000 after buying an additional 22 shares in the last quarter. Alpha Windward LLC boosted its stake in Mondelez International by 0.4% in the third quarter. Alpha Windward LLC now owns 5,937 shares of the company’s stock valued at $261,000 after buying an additional 22 shares during the last quarter. Tarbox Group Inc. boosted its stake in Mondelez International by 0.9% in the third quarter. Tarbox Group Inc. now owns 2,836 shares of the company’s stock valued at $125,000 after buying an additional 25 shares during the last quarter. K.J. Harrison & Partners Inc boosted its stake in Mondelez International by 0.5% in the third quarter. K.J. Harrison & Partners Inc now owns 7,237 shares of the company’s stock valued at $318,000 after buying an additional 37 shares during the last quarter. Finally, Enterprise Financial Services Corp boosted its stake in Mondelez International by 1.2% in the third quarter. Enterprise Financial Services Corp now owns 4,152 shares of the company’s stock valued at $182,000 after buying an additional 48 shares during the last quarter. 75.46% of the stock is owned by institutional investors and hedge funds.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers in approximately 165 countries around the world. The Company operates through five segments: Latin America; Asia Pacific; Eastern Europe, Middle East, and Africa (EEMEA); Europe, and North America.