JPMorgan Chase & Co. Cuts Mondelez International (NASDAQ:MDLZ) Price Target to $69.00

Mondelez International (NASDAQ:MDLZ) had its target price reduced by JPMorgan Chase & Co. from $71.00 to $69.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on MDLZ. TD Cowen lowered their price target on shares of Mondelez International from $68.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Bank of America lowered their target price on Mondelez International from $69.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 19th. Morgan Stanley dropped their target price on Mondelez International from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, December 11th. Wall Street Zen lowered Mondelez International from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, DA Davidson reduced their price target on Mondelez International from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.11.

Mondelez International Stock Up 1.4%

MDLZ stock opened at $58.40 on Wednesday. The firm has a 50-day moving average price of $55.34 and a 200-day moving average price of $60.10. Mondelez International has a 12 month low of $51.20 and a 12 month high of $71.15. The company has a current ratio of 0.61, a quick ratio of 0.37 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $75.36 billion, a P/E ratio of 21.87 and a beta of 0.39.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). The company had revenue of $9.74 billion for the quarter, compared to analyst estimates of $9.76 billion. Mondelez International had a return on equity of 14.16% and a net margin of 9.38%.Mondelez International’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Mondelez International has set its FY 2025 guidance at 2.860-2.860 EPS. As a group, equities research analysts anticipate that Mondelez International will post 2.9 EPS for the current fiscal year.

Mondelez International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Mondelez International’s dividend payout ratio is 74.91%.

Institutional Investors Weigh In On Mondelez International

Several large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Mondelez International during the 2nd quarter worth approximately $1,239,834,000. JPMorgan Chase & Co. increased its holdings in shares of Mondelez International by 17.1% during the third quarter. JPMorgan Chase & Co. now owns 69,588,126 shares of the company’s stock valued at $4,347,170,000 after acquiring an additional 10,137,457 shares in the last quarter. Capital International Investors increased its holdings in shares of Mondelez International by 9.7% during the third quarter. Capital International Investors now owns 78,561,316 shares of the company’s stock valued at $4,907,892,000 after acquiring an additional 6,958,868 shares in the last quarter. First Trust Advisors LP raised its position in shares of Mondelez International by 197.9% during the second quarter. First Trust Advisors LP now owns 4,066,155 shares of the company’s stock worth $274,221,000 after purchasing an additional 2,701,229 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Mondelez International by 103.2% in the 3rd quarter. Van ECK Associates Corp now owns 5,192,301 shares of the company’s stock worth $324,363,000 after purchasing an additional 2,637,287 shares in the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.

Mondelez International Company Profile

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.