Stock Buyback Program Announced by Mondelez International (NASDAQ:MDLZ)

Mondelez International (NASDAQ:MDLZ) declared that its board has approved a stock buyback program on Wednesday, December 11th, RTT News reports. The company plans to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDLZ. Stifel Nicolaus upped their price target on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Citigroup decreased their price objective on shares of Mondelez International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Redburn Atlantic started coverage on Mondelez International in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $82.00 price objective for the company. Evercore ISI raised their price target on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Piper Sandler upped their price target on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mondelez International presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.64.

Mondelez International Price Performance

Shares of MDLZ stock opened at $63.12 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.63. The stock has a market capitalization of $84.40 billion, a PE ratio of 22.66, a PEG ratio of 2.84 and a beta of 0.53. Mondelez International has a 52 week low of $60.33 and a 52 week high of $77.20. The stock’s fifty day moving average is $67.54 and its 200-day moving average is $68.76.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.14. Mondelez International had a return on equity of 17.53% and a net margin of 10.58%. The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.11 billion. During the same quarter last year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Mondelez International will post 3.48 EPS for the current fiscal year.

Mondelez International Company Profile

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.