Mondelez International (NASDAQ:MDLZ) Price Target Cut to $62.00 by Analysts at Bank of America

Mondelez International (NASDAQ:MDLZ) had its price objective cut by Bank of America from $69.00 to $62.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Sanford C. Bernstein cut their target price on shares of Mondelez International from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Royal Bank Of Canada reduced their price objective on Mondelez International from $71.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mondelez International in a report on Tuesday, October 14th. Evercore ISI cut their price target on Mondelez International from $73.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Finally, Morgan Stanley reduced their price target on Mondelez International from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Mondelez International Trading Down 0.5%

Shares of MDLZ stock opened at $54.50 on Friday. Mondelez International has a fifty-two week low of $53.13 and a fifty-two week high of $71.15. The stock’s fifty day moving average price is $57.28 and its two-hundred day moving average price is $62.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.37 and a current ratio of 0.61. The company has a market cap of $70.32 billion, a PE ratio of 20.41 and a beta of 0.39.

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

Mondelez International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 3.7%. Mondelez International’s dividend payout ratio is presently 74.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Soundwatch Capital LLC bought a new position in Mondelez International during the second quarter worth $27,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Mondelez International in the 3rd quarter valued at about $27,000. Rossby Financial LCC boosted its position in shares of Mondelez International by 966.7% during the 2nd quarter. Rossby Financial LCC now owns 448 shares of the company’s stock valued at $30,000 after purchasing an additional 406 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Mondelez International by 141.0% during the third quarter. Richardson Financial Services Inc. now owns 482 shares of the company’s stock worth $30,000 after purchasing an additional 282 shares during the period. Finally, Aspect Partners LLC lifted its stake in Mondelez International by 180.5% in the second quarter. Aspect Partners LLC now owns 474 shares of the company’s stock valued at $32,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Company Profile

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.