Mondelez International (NASDAQ:MDLZ) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Key Points

• Mondelez International had its target price raised by Sanford C. Bernstein from $79.00 to $88.00, indicating a potential upside of 34.28% from its current price.
• Despite a recent decline in share price, Mondelez reported a strong quarterly revenue of $8.98 billion, surpassing analysts' expectations.
• Analysts have mixed ratings on Mondelez, with 14 buy ratings, 6 hold ratings, and 1 sell rating, leading to an average rating of "Moderate Buy" and a consensus target price of $71.95.

Mondelez International (NASDAQ:MDLZ - Free Report) had its target price upped by Sanford C. Bernstein from $79.00 to $88.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

MDLZ has been the subject of several other reports. Morgan Stanley increased their price target on Mondelez International from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Piper Sandler increased their price target on Mondelez International from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday. Royal Bank Of Canada restated an "outperform" rating and issued a $69.00 price target on shares of Mondelez International in a report on Monday, April 28th. Wells Fargo & Company upgraded Mondelez International from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $68.00 to $78.00 in a report on Friday, June 20th. Finally, DA Davidson downgraded Mondelez International from a "buy" rating to a "neutral" rating and increased their price target for the stock from $66.00 to $68.00 in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Mondelez International presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.95.

Mondelez International Trading Down 1.2%

NASDAQ:MDLZ traded down $0.76 during mid-day trading on Wednesday, hitting $63.93. The company had a trading volume of 10,650,337 shares, compared to its average volume of 7,675,097. Mondelez International has a fifty-two week low of $53.95 and a fifty-two week high of $76.06. The business's fifty day moving average is $67.73 and its two-hundred day moving average is $65.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.40 and a current ratio of 0.64. The firm has a market cap of $82.78 billion, a P/E ratio of 23.42, a P/E/G ratio of 4.71 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. Mondelez International had a return on equity of 15.35% and a net margin of 9.84%. The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Mondelez International will post 2.9 earnings per share for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Mondelez International's previous quarterly dividend of $0.47. Mondelez International's payout ratio is currently 68.86%.

Hedge Funds Weigh In On Mondelez International

Institutional investors and hedge funds have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC increased its holdings in Mondelez International by 15.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 7,768 shares of the company's stock worth $527,000 after purchasing an additional 1,013 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Mondelez International by 23.6% in 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 buying an additional 8,544 shares during the period. TCW Group Inc. increased its stake in shares of Mondelez International by 1.1% in the first quarter. TCW Group Inc. now owns 98,444 shares of the company's stock valued at $6,679,000 after buying an additional 1,075 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of Mondelez International by 58.2% in the first quarter. Flagship Harbor Advisors LLC now owns 10,883 shares of the company's stock valued at $738,000 after buying an additional 4,002 shares during the period. Finally, CORDA Investment Management LLC. increased its stake in shares of Mondelez International by 1.5% in the first quarter. CORDA Investment Management LLC. now owns 573,612 shares of the company's stock valued at $38,920,000 after buying an additional 8,456 shares during the period. Institutional investors and hedge funds own 78.32% of the company's stock.

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.