() updated its FY23 earning guidance on Thursday morning. The company gave a guidance of $3.25 EPS for the period compared to a consensus estimate of $3.15 EPS. Mondelez International updated its FY 2023 guidance at $3.25-EPS.
Mondelez International Price Performance
During Friday's midday trading, the stock rose $2.90 to $76.72. The trading volume was 14,836,643 compared to the average of 6,000982. The stock's fifty-day simple moving is $68.56. Its 200-day simple moving is $66.06. The company last released its quarterly results on Thursday, 27th April. The company's earnings per share were $0.89, exceeding analysts' expectations of $0.80. Revenue for the quarter was $9.17 billion, which is higher than analyst expectations of $8.43. Mondelez International's net margin was 8.63%, and its return on equity was 15.04%. The revenue of Mondelez International for the quarter increased by 18.1% when compared with the same quarter in the previous year. In the same quarter of last year, the company posted $0.84 in earnings per share. Analysts at equities firms predict that Mondelez International's earnings per share will be 3.14 for the current fiscal year.
Mondelez International Dividend Announcement
A quarterly dividend was also declared by the company and paid out on Friday, 14th April. Investors who held shares on the Friday, March 31, were paid a dividend of $0.385. On an annualized base, this represents a $1.54 payout and a yield of 2.01%. The ex-dividend day was Thursday 30th March. The current dividend payout ratio of Mondelez International is 78.57%.
Wall Street analysts forecast growth
Analysts have recently commented on MDLZ's shares. Bank of America increased their price target for shares of Mondelez International in a Friday report from $77.00 up to $82.00. Wells Fargo & Company increased their price target on shares of Mondelez International to $77.00 in a research report on Wednesday, 1st February. The company was also given an overweight rating. Piper Sandler increased their price target on shares of Mondelez International in a Friday research note from $80.00 up to $83.00. Morgan Stanley increased their price target on shares of Mondelez International to $77.00 from $75.00 in a research report on Tuesday, 11th April. The company was also given an overweight rating. Royal Bank of Canada lowered shares of Mondelez International's rating from outperform to sector perform and set a $69.00 target price for the stock. In a research report published on January 3rd, Royal Bank of Canada lowered the stock's rating from outperform to sector perform. The price target was set at $69.00. Five analysts at equities firms have given the stock a "hold" rating, and 12 have given the company a "buy" rating. According to data from MarketBeat.com the company has an average rating Moderate Buy with an average price of $76.56.
Institutional Investors weigh in on Mondelez International
Recently, several institutional investors increased or decreased their stakes in MDLZ. Moneta Group Investment Advisors LLC increased its stake in Mondelez International in the fourth quarter by 116.165.4%. Moneta Group Investment Advisors LLC owns 23,389 107 shares of company stock worth $1,558,884,000, after purchasing an additional 23,368,990 in the fourth quarter. Norges Bank purchased a new stake of $981,319,000 in Mondelez International during the fourth quarter. Morgan Stanley increased their stake in Mondelez International in the fourth quarter by 25.8%. Morgan Stanley owns 22,750 267 shares in the company valued at $1,516,305,000, after purchasing 4,663,166 additional shares during the previous quarter. Renaissance Technologies LLC increased their stake in Mondelez International from 759.1% to $190,556,000 in the first quarter. Renaissance Technologies LLC owns now 3,035,298 of the company’s stock, valued at $190.556,000. This is after purchasing an additional 2,682,000 during the last quarter. Man Group plc also increased its stakes in Mondelez International in the fourth quarter by 122.6%. Man Group plc owns now 3,468,865 of the company’s stock, valued at $231,000,000, after purchasing an additional 1,910 553 shares in the last quarter. Institutional investors own 75.91% the stock.
About Mondelez International
Mondelez International, Inc is a snack food and beverage company that manufactures and markets products. It operates in the following geographic segments: Latin America (including Middle East and Africa), Europe, North America and Asia. The company's products include biscuits, beverages, chocolate, candy and gum, cheese, groceries, and meals.
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