Mondelez International (NASDAQ:MDLZ) Shares Gap Up Following Better-Than-Expected Earnings

Mondelez International, Inc. (NASDAQ:MDLZ - Get Free Report)'s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $65.65, but opened at $68.07. Mondelez International shares last traded at $67.58, with a volume of 1,554,680 shares traded.

The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. The firm had revenue of $9.31 billion for the quarter, compared to analyst estimates of $9.37 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis.

Mondelez International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 31st. Mondelez International's payout ratio is 54.97%.

Wall Street Analyst Weigh In

MDLZ has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Mondelez International from $67.00 to $62.00 and set a "hold" rating on the stock in a report on Wednesday, January 22nd. Argus downgraded shares of Mondelez International from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Citigroup cut their target price on shares of Mondelez International from $78.00 to $71.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on Mondelez International from $64.00 to $68.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group cut their price objective on Mondelez International from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Mondelez International has a consensus rating of "Moderate Buy" and an average target price of $69.85.

Hedge Funds Weigh In On Mondelez International

A number of hedge funds have recently modified their holdings of the stock. Diamant Asset Management Inc. grew its holdings in shares of Mondelez International by 27.6% in the 3rd quarter. Diamant Asset Management Inc. now owns 3,978 shares of the company's stock worth $293,000 after purchasing an additional 860 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in shares of Mondelez International by 13.6% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,088 shares of the company's stock valued at $1,042,000 after acquiring an additional 1,686 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Mondelez International in the 3rd quarter worth approximately $14,578,000. Wilmington Savings Fund Society FSB increased its holdings in Mondelez International by 489.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 104,764 shares of the company's stock valued at $7,718,000 after purchasing an additional 86,981 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Mondelez International by 6.5% in the 3rd quarter. Tidal Investments LLC now owns 97,883 shares of the company's stock valued at $7,211,000 after purchasing an additional 5,944 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

Mondelez International Trading Up 3.5 %

The business has a 50 day simple moving average of $65.98 and a 200 day simple moving average of $63.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $87.87 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 4.34 and a beta of 0.47.

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.

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