Mondelez International Inc. (MDLZ) Upgraded by Zacks Investment Research to Buy
Mondelez International Inc. (NASDAQ:MDLZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $48.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.68% from the stock’s previous close.
According to Zacks, “Mondelez reported third-quarter 2016 results wherein earnings beat the Zacks Consensus Estimate while revenues missed the same. On a constant currency basis, earnings grew 42.1%, primarily driven by operating gains, strong results from coffee equity income investments and lower taxes. Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. The company is refreshing its brand portfolio through product innovation and extending its brands to newer geographies and platforms. Despite weak sales, Mondelez' margins have remained consistently strong backed by cost savings and productivity gains.”
Several other analysts have also recently commented on MDLZ. Susquehanna reiterated a “buy” rating and set a $60.00 price target on shares of Mondelez International in a research report on Tuesday, August 30th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $44.19 price target (up from $35.88) on shares of Mondelez International in a research report on Tuesday, September 6th. Deutsche Bank AG reiterated a “hold” rating and set a $46.00 price target on shares of Mondelez International in a research report on Thursday, November 10th. Credit Suisse Group AG reiterated a “buy” rating and set a $51.00 price target on shares of Mondelez International in a research report on Thursday, September 1st. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $54.00 price target on shares of Mondelez International in a research report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. Mondelez International presently has a consensus rating of “Buy” and a consensus price target of $47.21.
Shares of Mondelez International (NASDAQ:MDLZ) traded up 0.72% during mid-day trading on Tuesday, reaching $43.29. The company had a trading volume of 3,173,355 shares. The stock’s 50-day moving average price is $43.01 and its 200 day moving average price is $43.73. Mondelez International has a 1-year low of $35.88 and a 1-year high of $46.40. The company has a market capitalization of $66.86 billion, a PE ratio of 82.61 and a beta of 1.11.
Mondelez International (NASDAQ:MDLZ) last announced its earnings results on Wednesday, October 26th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The business earned $6.40 billion during the quarter, compared to the consensus estimate of $6.45 billion. Mondelez International had a return on equity of 10.88% and a net margin of 3.16%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Equities analysts expect that Mondelez International will post $1.95 EPS for the current year.
In other Mondelez International news, Director Lewis W. K. Booth acquired 2,500 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were acquired at an average price of $41.61 per share, for a total transaction of $104,025.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 3,800,000 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $44.09, for a total value of $167,542,000.00. Following the completion of the transaction, the director now owns 13,495 shares in the company, valued at approximately $594,994.55. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adirondack Trust Co. increased its position in Mondelez International by 7.3% in the third quarter. Adirondack Trust Co. now owns 2,334 shares of the company’s stock worth $103,000 after buying an additional 159 shares during the last quarter. D. Scott Neal Inc. acquired a new position in Mondelez International during the third quarter worth approximately $106,000. Van Hulzen Asset Management LLC acquired a new position in Mondelez International during the third quarter worth approximately $117,000. BlueMountain Capital Management LLC purchased a new position in Mondelez International during the second quarter worth about $118,000. Finally, Tarbox Group Inc. increased its position in Mondelez International by 0.9% in the third quarter. Tarbox Group Inc. now owns 2,836 shares of the company’s stock worth $125,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Mondelez International Company Profile
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers in approximately 165 countries around the world. The Company operates through five segments: Latin America; Asia Pacific; Eastern Europe, Middle East, and Africa (EEMEA); Europe, and North America.
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