Mondelez International (NASDAQ:MDLZ) Upgraded to “Buy” at Freedom Broker

Freedom Broker upgraded shares of Mondelez International (NASDAQ:MDLZ) from a hold rating to a buy rating in a research note released on Friday,Benzinga reports. Freedom Broker currently has $71.00 price objective on the stock.

A number of other research firms have also commented on MDLZ. BNP Paribas Exane lifted their target price on shares of Mondelez International from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company raised their price target on Mondelez International from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday. TD Cowen raised their price target on Mondelez International from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Mondelez International in a research note on Friday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $73.00 price objective (up from $70.00) on shares of Mondelez International in a report on Wednesday, July 29th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Mondelez International Stock Performance

Shares of NASDAQ:MDLZ opened at $64.94 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.42 and a debt-to-equity ratio of 0.61. Mondelez International has a 1-year low of $51.20 and a 1-year high of $66.65. The stock has a market capitalization of $82.88 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.51 and a beta of 0.34. The business has a 50-day moving average price of $61.79 and a two-hundred day moving average price of $60.34.

Mondelez International (NASDAQ:MDLZ) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.71 by $0.07. Mondelez International had a net margin of 10.22% and a return on equity of 14.18%. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.98 billion. During the same quarter in the previous year, the company earned $0.73 EPS. Mondelez International’s revenue was up 2.3% on a year-over-year basis. Equities analysts predict that Mondelez International will post 3.06 earnings per share for the current year.

Insider Activity at Mondelez International

In related news, CEO Dirk Van de Put sold 133,580 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $64.08, for a total value of $8,559,806.40. Following the sale, the chief executive officer directly owned 1,326,488 shares of the company’s stock, valued at approximately $85,001,351.04. The trade was a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mondelez International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC acquired a new position in Mondelez International during the 2nd quarter worth approximately $74,341,000. Junto Capital Management LP bought a new position in Mondelez International in the second quarter valued at $53,549,000. Dimensional Fund Advisors LP grew its position in Mondelez International by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,435,171 shares of the company’s stock valued at $543,900,000 after purchasing an additional 916,235 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Mondelez International in the third quarter valued at $52,335,000. Finally, Wellington Management Group LLP increased its stake in Mondelez International by 179.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,047,680 shares of the company’s stock valued at $60,598,000 after buying an additional 673,098 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

About Mondelez International

Mondelez International, Inc (NASDAQ: MDLZ) is a global snack-food company that develops, manufactures, markets and sells branded products in categories including biscuits, chocolate, baked snacks, cheese and grocery items. Its portfolio includes well-known brands such as Oreo, Ritz, Chips Ahoy!, belVita, CLIF, Cadbury, Milka, Toblerone and Trident.

The company sells its products through retailers, wholesalers, e-commerce channels and other distribution networks. Mondelez serves consumers in more than 150 countries, with operations and brands tailored to markets across North America, Latin America, Europe, Asia, the Middle East and Africa.

Mondelez was formed in 2012 when Kraft Foods separated its global snack-food business from its North American grocery operations.