Vetr cut shares of Mondelez International Inc (NASDAQ:MDLZ) from a strong-buy rating to a buy rating in a research note published on Thursday morning, Market Beat Ratings reports. The firm currently has $46.36 target price on the stock.

Mondelez International (NASDAQ:MDLZ) opened at 41.55 on Thursday. The company has a 50 day moving average of $42.93 and a 200-day moving average of $43.74. The stock has a market cap of $66.03 billion and a P/E ratio of 8.10. Mondelez International has a 12-month low of $33.97 and a 12-month high of $48.58.

Mondelez International (NASDAQ:MDLZ) last issued its earnings results on Wednesday, October 28th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm earned $6.85 million during the quarter, compared to analysts’ expectations of $6.81 million. Mondelez International’s quarterly revenue was down 17.8% compared to the same quarter last year. Equities analysts forecast that Mondelez International will post $1.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 14th. Investors of record on Thursday, December 31st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.64%. This is an increase from Mondelez International’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, December 29th.

MDLZ has been the subject of several other reports. Zacks Investment Research upgraded Mondelez International from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Wednesday, October 14th. Sanford C. Bernstein reiterated an outperform rating and issued a $58.00 target price on shares of Mondelez International in a report on Monday. Nomura reiterated a sell rating and issued a $35.00 target price on shares of Mondelez International in a report on Tuesday, December 1st. Susquehanna reiterated a positive rating and issued a $58.00 target price on shares of Mondelez International in a report on Wednesday, December 23rd. Finally, Deutsche Bank cut Mondelez International from a buy rating to a hold rating and decreased their price objective for the stock from $49.00 to $48.00 in a research note on Thursday, January 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Buy and an average target price of $48.67.

A number of hedge funds recently bought and sold shares of MDLZ. British Columbia Investment Management Corp raised its stake in Mondelez International by 25.3% in the fourth quarter. British Columbia Investment Management Corp now owns 1,021,963 shares of the company’s stock valued at $45,825,000 after buying an additional 206,167 shares during the period. Packer & Co Ltd bought a new stake in Mondelez International during the fourth quarter valued at approximately $21,478,000. TIAA CREF Trust Co. FSB MO raised its stake in Mondelez International by 7.5% in the fourth quarter. TIAA CREF Trust Co. FSB MO now owns 384,605 shares of the company’s stock valued at $17,246,000 after buying an additional 26,976 shares during the period. Piedmont Investment Advisors LLC raised its stake in Mondelez International by 0.9% in the fourth quarter. Piedmont Investment Advisors LLC now owns 359,176 shares of the company’s stock valued at $16,105,000 after buying an additional 3,170 shares during the period. Finally, DIAM Co. Ltd. raised its stake in Mondelez International by 4.9% in the fourth quarter. DIAM Co. Ltd. now owns 285,187 shares of the company’s stock valued at $13,021,000 after buying an additional 13,398 shares during the period.

Mondelez International, Inc. is a snack food and beverage company. The Company manufactures and markets snack food and beverage products for consumers in approximately 165 countries around the world. The Company offers its brands in five product categories: biscuits (NASDAQ:MDLZ); chocolate; gum and candy; beverages (including coffee and powdered beverages), and cheese and grocery. It has a portfolio of around 58 brands, which include nine billion dollar brands: LU, Nabisco and Oreo biscuits; Cadbury, Cadbury Dairy Milk and Milka chocolates; Trident gum, and Jacobs coffee and Tang powdered beverages. It has operations in Latin America, Asia Pacific, Eastern Europe, Middle East, and Africa (EEMEA), Europe and North America. The Company’s products are sold to supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores and other retail food outlets.

12 Month Chart for NASDAQ:MDLZ

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