Mondelez International (NASDAQ:MDLZ) Receives New Coverage from Analysts at TD Cowen

TD Cowen began coverage on shares of Mondelez International (NASDAQ:MDLZ) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $82.00 target price on the stock.

A number of other equities analysts have also recently commented on the company. Barclays lifted their target price on Mondelez International from $80.00 to $82.00 and gave the stock an overweight rating in a report on Monday, July 31st. Piper Sandler boosted their price objective on Mondelez International from $82.00 to $83.00 and gave the company an overweight rating in a report on Friday, July 28th. StockNews.com initiated coverage on Mondelez International in a report on Thursday, August 17th. They set a buy rating for the company. Finally, Morgan Stanley boosted their price objective on Mondelez International from $79.00 to $82.00 and gave the company an overweight rating in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Mondelez International has a consensus rating of Moderate Buy and an average price target of $77.63.

Mondelez International Stock Down 0.6 %

MDLZ stock opened at $71.94 on Wednesday. Mondelez International has a twelve month low of $54.72 and a twelve month high of $78.59. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 0.63. The stock has a market cap of $97.87 billion, a P/E ratio of 23.82, a PEG ratio of 2.43 and a beta of 0.64. The business’s 50-day moving average price is $72.25 and its 200-day moving average price is $72.15.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Thursday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Mondelez International had a return on equity of 15.49% and a net margin of 12.13%. The company had revenue of $8.51 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter last year, the company earned $0.67 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Mondelez International will post 3.24 EPS for the current year.

Mondelez International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.425 per share. This is a boost from Mondelez International’s previous quarterly dividend of $0.39. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 28th. Mondelez International’s dividend payout ratio is 56.29%.

Institutional Investors Weigh In On Mondelez International

A number of hedge funds have recently made changes to their positions in MDLZ. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Mondelez International by 91,843.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 25,669,793 shares of the company’s stock worth $1,872,355,000 after purchasing an additional 25,641,874 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Mondelez International by 116,165.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,389,107 shares of the company’s stock worth $1,558,884,000 after purchasing an additional 23,368,990 shares during the last quarter. Norges Bank purchased a new stake in Mondelez International in the fourth quarter valued at about $981,319,000. Price T Rowe Associates Inc. MD raised its stake in Mondelez International by 17.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,603,137 shares of the company’s stock valued at $2,106,349,000 after buying an additional 4,685,244 shares during the last quarter. Finally, Morgan Stanley raised its stake in Mondelez International by 25.8% in the fourth quarter. Morgan Stanley now owns 22,750,267 shares of the company’s stock valued at $1,516,305,000 after buying an additional 4,663,166 shares during the last quarter. 76.16% of the stock is currently owned by hedge funds and other institutional investors.

About Mondelez International

Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.