Barclays Raises Mondelez International (NASDAQ:MDLZ) Price Target to $77.00

Key Points

• Barclays has raised its target price for Mondelez International from $74.00 to $77.00, indicating a potential upside of 19.51% from the previous closing price, while maintaining an "overweight" rating on the stock.
• Multiple analysts have expressed bullish sentiment for Mondelez, with several raising their price targets and 14 analysts giving the stock a "buy" rating, contributing to a consensus rating of "Moderate Buy."
• Despite positive forecasts, Mondelez International shares are currently down 7.6%, reflecting short-term market challenges despite strong quarterly earnings exceeding analyst estimates.

Mondelez International (NASDAQ:MDLZ - Free Report) had its price objective raised by Barclays from $74.00 to $77.00 in a research report report published on Thursday morning, Marketbeat reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group raised shares of Mondelez International from a "hold" rating to a "buy" rating and lifted their target price for the company from $66.00 to $78.00 in a report on Thursday, July 17th. UBS Group increased their target price on Mondelez International from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised Mondelez International from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $68.00 to $78.00 in a report on Friday, June 20th. Evercore ISI boosted their price objective on shares of Mondelez International from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Mondelez International from $64.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.95.

Mondelez International Stock Performance

Shares of MDLZ stock traded down $0.40 during mid-day trading on Thursday, hitting $63.53. 8,290,465 shares of the stock were exchanged, compared to its average volume of 9,121,174. The stock's fifty day simple moving average is $67.73 and its two-hundred day simple moving average is $65.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.39 and a current ratio of 0.64. Mondelez International has a 12-month low of $53.95 and a 12-month high of $76.06. The stock has a market capitalization of $82.26 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 4.84 and a beta of 0.46.

Mondelez International (NASDAQ:MDLZ - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The company's revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Mondelez International will post 2.9 EPS for the current year.

Mondelez International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a $0.50 dividend. This is an increase from Mondelez International's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Mondelez International's dividend payout ratio is 73.26%.

Hedge Funds Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Abound Financial LLC acquired a new position in Mondelez International in the first quarter worth $25,000. Goodman Advisory Group LLC acquired a new stake in Mondelez International in the first quarter worth about $26,000. Transce3nd LLC acquired a new position in Mondelez International during the 4th quarter valued at about $30,000. Orion Capital Management LLC bought a new stake in shares of Mondelez International during the 4th quarter worth about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Mondelez International by 376.1% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 438 shares of the company's stock worth $30,000 after acquiring an additional 346 shares during the period. Hedge funds and other institutional investors 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.