Mondelez International (NASDAQ:MDLZ) Sets New 12-Month Low – Here’s What Happened

Mondelez International, Inc. (NASDAQ:MDLZ)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $58.71 and last traded at $58.74, with a volume of 3731612 shares changing hands. The stock had previously closed at $59.86.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDLZ. Evercore ISI upped their price objective on shares of Mondelez International from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Piper Sandler lifted their price objective on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $61.00 target price (down from $74.00) on shares of Mondelez International in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America raised their price objective on shares of Mondelez International from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Mondelez International presently has an average rating of “Moderate Buy” and a consensus target price of $77.64.

Mondelez International Price Performance

The company’s 50-day simple moving average is $63.04 and its two-hundred day simple moving average is $67.71. The firm has a market capitalization of $77.95 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.80 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.63 and a quick ratio of 0.42.

Mondelez International (NASDAQ:MDLZ) last released 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 during the quarter, compared to analyst estimates of $9.11 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. Mondelez International’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts expect that Mondelez International, Inc. will post 3.48 earnings per share for the current year.

Mondelez International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.23%. Mondelez International’s payout ratio is currently 66.67%.

Mondelez International declared that its board has authorized a share repurchase plan on Wednesday, December 11th that permits the company to buyback $9.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Mondelez International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Private Trust Co. boosted its stake in Mondelez International by 33.2% during the fourth quarter. Legacy Private Trust Co. now owns 3,841 shares of the company’s stock valued at $229,000 after buying an additional 957 shares during the last quarter. Douglas Lane & Associates LLC grew its holdings in shares of Mondelez International by 1.4% in the fourth quarter. Douglas Lane & Associates LLC now owns 14,130 shares of the company’s stock valued at $844,000 after purchasing an additional 198 shares in the last quarter. Diversified Trust Co increased its position in Mondelez International by 85.6% in the fourth quarter. Diversified Trust Co now owns 41,574 shares of the company’s stock worth $2,483,000 after purchasing an additional 19,175 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its position in Mondelez International by 50.5% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 32,565 shares of the company’s stock valued at $1,945,000 after purchasing an additional 10,920 shares during the last quarter. Finally, Boltwood Capital Management grew its stake in shares of Mondelez International by 3.0% in the 4th quarter. Boltwood Capital Management now owns 13,270 shares of the company’s stock worth $793,000 after buying an additional 382 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

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.