Royal Bank of Canada Has Lowered Expectations for Mondelez International (NASDAQ:MDLZ) Stock Price

Mondelez International (NASDAQ:MDLZ) had its price target cut by equities research analysts at Royal Bank of Canada from $75.00 to $69.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 19.82% from the company’s current price.

Several other research firms also recently weighed in on MDLZ. Deutsche Bank Aktiengesellschaft dropped their price objective on Mondelez International from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group downgraded Mondelez International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $75.00 to $62.00 in a research report on Tuesday, January 21st. Barclays dropped their price target on Mondelez International from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup dropped their price target on Mondelez International from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered their price objective on Mondelez International from $79.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.24.

Mondelez International Stock Performance

Mondelez International stock traded up $0.16 during mid-day trading on Thursday, reaching $57.59. 5,224,131 shares of the company were exchanged, compared to its average volume of 10,731,424. Mondelez International has a twelve month low of $53.95 and a twelve month high of $76.06. The firm’s 50-day simple moving average is $59.61 and its two-hundred day simple moving average is $66.47. 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 firm has a market cap of $77.00 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.12 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. Equities analysts predict that Mondelez International will post 3.44 earnings per share for the current fiscal year.

Mondelez International announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Mondelez International

Several hedge funds have recently bought and sold shares of MDLZ. Truvestments Capital LLC bought a new position in Mondelez International during the third quarter worth about $25,000. Prospera Private Wealth LLC acquired a new position in shares of Mondelez International in the 3rd quarter valued at $27,000. Richardson Financial Services Inc. lifted its position in Mondelez International by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Marshall Investment Management LLC bought a new stake in Mondelez International during the 4th quarter worth about $26,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Mondelez International in the 4th quarter valued at about $27,000. 78.32% of the stock is owned by institutional investors and hedge funds.

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.