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

Mondelez International (NASDAQ:MDLZ - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a report released on Friday,Finviz reports. The firm presently has a $78.00 target price on the stock. Wells Fargo & Company's price objective suggests a potential upside of 17.56% from the stock's current price.

A number of other research analysts have also recently weighed in on MDLZ. Argus cut shares of Mondelez International from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Evercore ISI boosted their target price on shares of Mondelez International from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Piper Sandler boosted their target price on shares of Mondelez International from $59.00 to $64.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. DA Davidson lowered shares of Mondelez International from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $66.00 to $68.00 in a report on Thursday, April 24th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $69.00 price objective on shares of Mondelez International in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.63.

Mondelez International Price Performance

MDLZ stock opened at $66.35 on Friday. Mondelez International has a 52 week low of $53.95 and a 52 week high of $76.06. The firm has a market capitalization of $85.91 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 5.14 and a beta of 0.48. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $66.64 and a two-hundred day simple moving average of $63.53.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MDLZ. Norges Bank acquired a new position in Mondelez International during the fourth quarter valued at approximately $1,118,755,000. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 13,755,181 shares during the last quarter. Nuveen LLC acquired a new position in shares of Mondelez International in the first quarter valued at $866,843,000. Capital Research Global Investors increased its holdings in shares of Mondelez International by 13.9% in the fourth quarter. Capital Research Global Investors now owns 37,529,511 shares of the company's stock valued at $2,241,637,000 after purchasing an additional 4,572,555 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Mondelez International in the fourth quarter valued at about $256,832,000. 78.32% of the stock is owned by 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.

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