Mondelez International (NASDAQ:MDLZ) Price Target Lowered to $62.00 at Bank of America

Mondelez International (NASDAQ:MDLZ) had its price objective reduced by research analysts at Bank of America from $69.00 to $62.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 12.61% from the company’s current price.

Other analysts also recently issued reports about the stock. Barclays dropped their price target on shares of Mondelez International from $71.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Berenberg Bank downgraded Mondelez International from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research report on Thursday, October 2nd. Royal Bank Of Canada lowered their price target on Mondelez International from $71.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. DA Davidson cut their price objective on Mondelez International from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Finally, DZ Bank raised Mondelez International from a “sell” rating to a “buy” rating in a report on Thursday, October 30th. Fourteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Mondelez International has a consensus rating of “Moderate Buy” and a consensus target price of $67.58.

Mondelez International Stock Performance

Mondelez International stock traded up $0.28 during mid-day trading on Friday, hitting $55.06. 5,936,235 shares of the company’s stock traded hands, compared to its average volume of 8,917,055. The company has a quick ratio of 0.37, a current ratio of 0.61 and a debt-to-equity ratio of 0.65. Mondelez International has a one year low of $53.13 and a one year high of $71.15. The firm has a 50 day moving average price of $57.42 and a 200 day moving average price of $62.33. The company has a market cap of $71.04 billion, a PE ratio of 20.62 and a beta of 0.39.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $0.66 EPS for the quarter. The company had revenue of $7.30 billion for the quarter. Mondelez International had a return on equity of 14.16% and a net margin of 9.38%. On average, equities analysts forecast that Mondelez International will post 2.9 EPS for the current year.

Hedge Funds Weigh In On Mondelez International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDLZ. AIA Group Ltd increased its stake in shares of Mondelez International by 40.6% in the third quarter. AIA Group Ltd now owns 91,688 shares of the company’s stock worth $5,728,000 after acquiring an additional 26,484 shares during the last quarter. Saranac Partners Ltd acquired a new position in Mondelez International in the 3rd quarter worth about $110,000. Allworth Financial LP raised its stake in shares of Mondelez International by 1.2% during the 3rd quarter. Allworth Financial LP now owns 350,293 shares of the company’s stock worth $21,883,000 after purchasing an additional 4,069 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Mondelez International by 19.7% during the 3rd quarter. IFP Advisors Inc now owns 6,149 shares of the company’s stock worth $384,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in shares of Mondelez International by 4.4% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 146,004 shares of the company’s stock worth $9,121,000 after purchasing an additional 6,107 shares in the last quarter. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

About Mondelez International

Mondelez International is a global snacks company headquartered in Chicago, Illinois, formed in 2012 when Kraft Foods split to create a business focused on snack foods and a separate North American grocery company. Mondelez develops, manufactures, markets and distributes a broad portfolio of snack products intended for retail, foodservice and e‑commerce channels around the world.

The company’s product mix centers on biscuits and cookies, chocolate and confectionery, gum and candy, and savory crackers and baked snacks.