Bank of America Has Lowered Expectations for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its target price reduced by Bank of America from $75.00 to $69.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 19.42% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Evercore ISI lowered their target price on shares of Mondelez International from $73.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Mizuho lowered their target price on shares of Mondelez International from $75.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Mondelez International from $78.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Piper Sandler lowered their target price on shares of Mondelez International from $67.00 to $63.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Barclays boosted their target price on shares of Mondelez International from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.68.

Mondelez International Stock Performance

NASDAQ:MDLZ opened at $57.78 on Wednesday. The company has a fifty day simple moving average of $61.95 and a two-hundred day simple moving average of $64.93. The company has a market cap of $74.76 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 5.34 and a beta of 0.45. The company has a quick ratio of 0.39, a current ratio of 0.61 and a debt-to-equity ratio of 0.65. Mondelez International has a 52 week low of $53.95 and a 52 week high of $71.15.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Tuesday, April 11th. The company reported $0.66 EPS for the quarter. The firm 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%. As a group, equities analysts anticipate that Mondelez International will post 2.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Mondelez International by 1.1% in the second quarter. State Street Corp now owns 59,446,397 shares of the company’s stock valued at $4,036,594,000 after buying an additional 670,634 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Mondelez International by 90.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,017,101 shares of the company’s stock valued at $1,968,811,000 after buying an additional 13,755,181 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Mondelez International by 0.8% in the second quarter. Geode Capital Management LLC now owns 28,951,049 shares of the company’s stock valued at $1,943,170,000 after buying an additional 242,695 shares during the last quarter. Norges Bank purchased a new stake in shares of Mondelez International in the second quarter valued at about $1,239,834,000. Finally, Invesco Ltd. raised its holdings in shares of Mondelez International by 10.7% in the second quarter. Invesco Ltd. now owns 13,892,264 shares of the company’s stock valued at $936,894,000 after buying an additional 1,345,078 shares during the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.

Mondelez International Company Profile

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.