Mondelez International, Inc. (MDLZ) Earns “Outperform” Rating from Sanford C. Bernstein
Sanford C. Bernstein reiterated their outperform rating on shares of Mondelez International, Inc. (NASDAQ:MDLZ) in a research report released on Wednesday morning. The brokerage currently has a $55.00 price objective on the stock.
Several other brokerages have also recently issued reports on MDLZ. Royal Bank Of Canada restated an outperform rating and issued a $53.00 price target (down previously from $54.00) on shares of Mondelez International in a research report on Monday, July 31st. BidaskClub cut Mondelez International from a hold rating to a sell rating in a research report on Tuesday, June 13th. Piper Jaffray Companies reiterated a buy rating and set a $49.00 target price on shares of Mondelez International in a research report on Tuesday. Susquehanna Bancshares Inc reiterated a hold rating on shares of Mondelez International in a research report on Wednesday, August 2nd. Finally, UBS AG reiterated a buy rating and set a $51.00 target price on shares of Mondelez International in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $50.69.
Shares of Mondelez International (NASDAQ MDLZ) traded down 0.35% on Wednesday, hitting $40.05. The stock had a trading volume of 15,694,044 shares. Mondelez International has a 12-month low of $40.04 and a 12-month high of $47.23. The stock has a 50 day moving average price of $42.26 and a 200-day moving average price of $43.99. The company has a market cap of $60.38 billion, a price-to-earnings ratio of 35.22 and a beta of 1.20.
Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Wednesday, August 2nd. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Mondelez International had a return on equity of 11.96% and a net margin of 6.92%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.98 billion. During the same period in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities analysts expect that Mondelez International will post $2.12 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Mondelez International’s previous quarterly dividend of $0.19. Mondelez International’s payout ratio is 66.67%.
In other Mondelez International news, EVP Daniel P. Myers sold 7,000 shares of Mondelez International stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $40.94, for a total value of $286,580.00. Following the transaction, the executive vice president now owns 20,965 shares in the company, valued at $858,307.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Maurizio Brusadelli sold 6,248 shares of Mondelez International stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.76, for a total transaction of $273,412.48. Following the completion of the transaction, the executive vice president now owns 61,651 shares in the company, valued at approximately $2,697,847.76. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of MDLZ. Vanguard Group Inc. grew its position in Mondelez International by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,799,909 shares of the company’s stock worth $4,267,168,000 after purchasing an additional 1,168,269 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Mondelez International by 7.3% during the 2nd quarter. Northern Trust Corp now owns 21,688,257 shares of the company’s stock valued at $936,717,000 after buying an additional 1,470,112 shares during the period. Lindsell Train Ltd boosted its stake in shares of Mondelez International by 16.2% during the 2nd quarter. Lindsell Train Ltd now owns 16,864,710 shares of the company’s stock valued at $728,387,000 after buying an additional 2,357,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Mondelez International by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 15,445,600 shares of the company’s stock valued at $664,480,000 after buying an additional 1,041,124 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Mondelez International by 9.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,753,346 shares of the company’s stock valued at $594,007,000 after buying an additional 1,243,500 shares during the period. Hedge funds and other institutional investors own 75.83% of the company’s stock.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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