Zacks Investment Research Downgrades Mondelez International (NASDAQ:MDLZ) to Hold
Mondelez International (NASDAQ:MDLZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, January 3rd.
According to Zacks, “Mondelez has an attractive portfolio of iconic brands, commanding presence in impulsive categories and fast-growing emerging markets. The company's margins have remained constantly strong backed by cost savings and productivity gains. However, shares of Mondelez underperfomed the industry in the last one year. Mondelez’s volumes have been hurt since 2014 by the elasticity impact from higher pricing and category weakness because of soft consumer demand. Moreover, with a significant portion of its sales coming from the international markets, currency is a significant top-line headwind.”
Several other research analysts have also recently issued reports on the stock. TheStreet upgraded shares of Mondelez International from a “c+” rating to a “b” rating in a report on Thursday, December 21st. BMO Capital Markets restated a “buy” rating and issued a $48.00 target price on shares of Mondelez International in a report on Thursday, November 2nd. UBS Group restated a “buy” rating and issued a $49.00 target price on shares of Mondelez International in a report on Friday, October 13th. Royal Bank of Canada restated a “buy” rating and issued a $53.00 target price on shares of Mondelez International in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $49.00 price target on shares of Mondelez International in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Mondelez International presently has a consensus rating of “Buy” and a consensus price target of $49.50.
In related news, Director Lewis W. K. Booth purchased 1,500 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $41.29 per share, for a total transaction of $61,935.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MDLZ. Bank of Nova Scotia Trust Co. purchased a new position in Mondelez International during the 3rd quarter valued at about $113,000. Cerebellum GP LLC acquired a new stake in shares of Mondelez International in the fourth quarter worth approximately $127,000. Acrospire Investment Management LLC boosted its position in shares of Mondelez International by 1,450.0% in the second quarter. Acrospire Investment Management LLC now owns 3,100 shares of the company’s stock worth $134,000 after acquiring an additional 2,900 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Mondelez International by 2,056.3% in the second quarter. Chicago Partners Investment Group LLC now owns 3,601 shares of the company’s stock worth $157,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Rockefeller Financial Services Inc. boosted its position in shares of Mondelez International by 300.0% in the third quarter. Rockefeller Financial Services Inc. now owns 4,000 shares of the company’s stock worth $163,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 76.02% of the company’s stock.
About Mondelez International
Mondelez International, Inc is a snack company. The Company manufactures and markets snack food and beverage products for consumers. It operates through four segments: Latin America, Asia, Middle East, and Africa (AMEA), Europe and North America. As of December 31, 2016, its brands spanned five product categories: Biscuits (including cookies, crackers and salted snacks); Chocolate; Gum and candy; Beverages (including coffee and powdered beverages), and Cheese and grocery.
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