Analysts at Piper Sandler have adjusted their price target for Mondelez International (NASDAQ: MDLZ) from $63.00 to $62.00, reflecting a cautious outlook on the company’s stock. This adjustment, made in a report released on October 30, 2023, maintains a neutral rating on the shares of the snack food giant.
Other financial institutions have also recently revised their forecasts for Mondelez International. On the same day, Wells Fargo & Company lowered its price target from $74.00 to $72.00, while issuing an “overweight” rating. Additionally, both Sanford C. Bernstein and DA Davidson adjusted their targets, with Bernstein reducing its price objective from $85.00 to $84.00 and maintaining an “outperform” rating, and DA Davidson bringing its target down from $65.00 to $62.00.
Zacks Research took a more pessimistic view, downgrading Mondelez from a “hold” to a “strong sell” rating, signaling concerns about the company’s future performance. Meanwhile, Barclays cut its price target from $71.00 to $67.00, but still rates the stock as “overweight.”
Overall, the consensus among analysts appears to be mixed. According to data from MarketBeat, fourteen analysts have rated Mondelez with a Buy designation, seven have given it a Hold rating, and one has assigned a Sell rating. The current consensus rating is “Moderate Buy,” with an average price target of approximately $68.32.
Recent Financial Performance
Mondelez International recently reported its quarterly earnings on April 11, 2023, disclosing an earnings per share (EPS) of $0.66 for the quarter. The company achieved a net margin of 9.38% and a return on equity of 14.16%, with total revenue reaching $7.30 billion.
Looking ahead, analysts forecast that Mondelez will report an EPS of $2.90 for the current fiscal year, indicating modest growth expectations.
Institutional Investor Activity
Recent movements among institutional investors have also influenced Mondelez’s stock dynamics. Soundwatch Capital LLC acquired a new stake in the company during the second quarter, investing approximately $27,000. Likewise, Rossby Financial LLC significantly increased its position by 966.7%, now owning 448 shares valued at around $30,000.
Richardson Financial Services Inc. boosted its holdings by 141.0% in the third quarter, now owning 482 shares, while Aspect Partners LLC enhanced its stake by 180.5% during the same period. Overall, institutional investors own approximately 78.32% of Mondelez’s stock, indicating strong confidence in the company’s long-term prospects despite recent rating adjustments.
Mondelez International, through its subsidiaries, is a leading manufacturer and seller of snack foods and beverages worldwide, with a diverse product range that includes biscuits, chocolates, gums, and powdered beverages. As the market continues to evolve, analysts will closely monitor Mondelez’s performance and the strategic decisions it makes to maintain its competitive edge in the global food industry.
