Mondelez International (NASDAQ:MDLZ) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Mondelez International (NASDAQ:MDLZ) from an equal weight rating to an overweight rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $78.00 target price on the stock, up from their previous target price of $68.00.

MDLZ has been the topic of a number of other research reports. Argus lowered shares of Mondelez International from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Piper Sandler upped their price objective on shares of Mondelez International from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, April 9th. UBS Group lifted their target price on Mondelez International from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Evercore ISI raised their price objective on Mondelez International from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Mondelez International in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.63.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $68.31 on Friday. The firm has a market capitalization of $88.45 billion, a PE ratio of 25.39, a PEG ratio of 5.14 and a beta of 0.48. Mondelez International has a 1 year low of $53.95 and a 1 year high of $76.06. The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $66.66 and its 200 day simple moving average is $63.55.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Mondelez International had a return on equity of 15.94% and a net margin of 9.90%. The company had revenue of $9.31 billion for the quarter, compared to the consensus estimate of $9.37 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Mondelez International will post 2.9 EPS for the current year.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.75%. Mondelez International’s dividend payout ratio (DPR) is presently 69.89%.

Institutional Trading of Mondelez International

Hedge funds have recently modified their holdings of the company. Amundi raised its position in Mondelez International by 20.1% in the 4th quarter. Amundi now owns 2,856,534 shares of the company’s stock valued at $166,507,000 after purchasing an additional 478,225 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Mondelez International by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 457,774 shares of the company’s stock worth $27,343,000 after acquiring an additional 4,121 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Mondelez International during the fourth quarter worth approximately $336,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Mondelez International by 23.6% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44,786 shares of the company’s stock valued at $3,039,000 after purchasing an additional 8,544 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in shares of Mondelez International by 2.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 540,900 shares of the company’s stock valued at $32,308,000 after purchasing an additional 12,900 shares in the last quarter. Institutional investors and hedge funds 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.