Mondelez International, IncNasdaq: MDLZ
Consumer Staples · Packaged Foods & Meats
$60.11
-1.24%
Vol: 11.0M
Research Digest
Friday, June 19, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 18Mondelez shares slid on June 17 as CEO Dirk Van de Put took on the AB InBev chairmanship (effective June 16), raising questions about his focus amid a pending CFO transition.Mixed▶
Mondelez stock fell about 2.1% on June 17, 2026, closing near $60.87, after CEO Dirk Van de Put was named the new chairman of AB InBev effective June 16, 2026, prompting investor concern over divided attention at the top. Separately, Mondelez is in the middle of a finance leadership transition: Amit Banati becomes CFO effective July 1, 2026, while long-time CFO Luca Zaramella shifts to EVP and Chief Operating Officer focused on commercial operations. The company's recent Q1 results topped expectations, and Barclays' Andrew Lazar raised his price target to $68 from $67 with an Overweight rating. The stock is still up roughly 15% year-to-date. The bear case: persistently high cocoa costs continue to pressure the core chocolate margin, consumer demand in key markets is soft, and the combination of a part-time-focused CEO plus a new CFO adds execution and governance uncertainty during a cost-inflation period.
Jun 17Mondelez named Amit Banati EVP and CFO on June 15, marking a key C-suite leadership change.Positive▶
On June 15, 2026, Mondelez International appointed Amit Banati as Executive Vice President and Chief Financial Officer, a significant change atop the finance organization. The following day, June 16, the company also announced nine start-ups chosen for its CoLab Tech 2026 innovation program. The CFO transition matters because it lands amid renewed momentum, with shares up roughly 7% over the past month and about 15% year-to-date following a Q1 beat. However, persistent risks remain from elevated cocoa costs, soft consumer demand, and chocolate market-share losses in North America and Europe. Barclays analyst Andrew Lazar raised his price target to $68 from $67 while keeping an Overweight rating. A new finance chief introduces execution uncertainty even as the broader operating story improves.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Mondelez declared a regular quarterly dividend of $0.50 per share on May 20 and held its 2026 Annual Meeting the same day.Positive▶
Mondelez International's board declared a regular quarterly dividend of $0.50 per share of Class A common stock on May 20, payable July 14 to shareholders of record as of June 30. The company held its 2026 Annual Meeting virtually that same day at 9:00 a.m. CDT. The stock closed at $61.64 on May 19, up about 2.0% on the day and 7.67% over the past month with YTD return of 14.89%. Mondelez continues executing a robust pricing strategy in response to high cocoa costs, with Q1 organic sales growth of 3% supported by a 3.5% benefit from higher prices offsetting a 0.5% volume decline. The company is leaning on innovation including Ritz Drizzled Minis to drive incremental share.
May 20Mondelez stock has built momentum after Q1 2026 beat and reaffirmed guidance, with Morgan Stanley raising its target to $71 on improving Western Europe fundamentals.Positive▶
Mondelez International stock has rallied with a one-month return of about 6.6%-7.7% as investors digest its Q1 2026 results that beat estimates and reaffirmed full-year guidance despite softer U.S. consumer confidence and Middle East-related cost risks. Q1 sales rose to $10.08B (from $9.31B), net income grew to $560M, and diluted EPS from continuing operations was $0.44, with 3% organic sales growth driven by a 3.5% pricing benefit offsetting a 0.5% volume decline. Adjusted operating margin contracted 310 bps to 11.7% as cocoa inflation and elevated brand spending outpaced productivity savings. In mid-May 2026, Morgan Stanley raised its price target to $71 with a Buy rating citing improving fundamentals and a Western Europe turnaround. Evercore ISI and JPMorgan raised targets to $71 and $70 respectively; Bernstein remained Buy, Berenberg Hold. Shares closed recently near $61-62, trading at a P/E of about 30x.
May 19Mondelez will hold its 2026 virtual annual shareholder meeting on May 20 and Morgan Stanley raised its price target to $71 with a Buy rating on May 14, even as the company contends with cocoa inflation that pressured Q1 adjusted operating margin down 310 bps.Mixed▶
Mondelez International scheduled its 2026 virtual annual shareholder meeting for May 20, 2026 at 9:00 a.m. CDT. On May 14, 2026, Morgan Stanley raised its price target to $71 from prior levels while reiterating a Buy rating (reaffirmed May 15). Q1 2026 results showed 3% organic sales growth driven entirely by 3.5% pricing offset by a 0.5% volume decline, with adjusted operating margin compressing 310 bps to 11.7% as productivity savings failed to offset cocoa inflation and elevated brand spending. Sales rose to $10.08 billion and net income to $560 million. Shares traded $60.45-$61.85 on May 18 at $61.74, up 6.61% over the prior 30 days but still down 5.75% over one year. The bear case: cocoa cost inflation remains the dominant margin headwind with no near-term relief; volume is contracting as price elasticity bites, and the company's reliance on pricing to drive growth limits options if consumer pushback intensifies.
May 18Mondelez stock is up ~15% YTD after Q1 2026 beat, with multiple analyst price-target hikes despite cocoa-cost margin pressurePositive▶
Mondelez reported Q1 2026 sales of $10.08 billion and net income of $560 million, with EPS of $0.44 from continuing operations, beating estimates and prompting management to reaffirm guidance. Shares last traded near $61.55, up about 15% year-to-date in 2026, with a 4.3% gain over 30 days. Adjusted operating margin contracted 310 bps to 11.7% as productivity savings were unable to offset cocoa inflation and stepped-up brand spending, prompting an aggressive pricing strategy in Europe and emerging markets. Multiple late April/early May upgrades included Bernstein moving to Buy and price target hikes from Evercore ISI to $71, JPMorgan to $70, BTIG initiating at Buy with $70, and Piper Sandler to $65. Bank of America named MDLZ a top consumer staples favorite. A DCF analysis suggests MDLZ is undervalued by ~43.3%, though the stock trades at a 30.2x P/E vs. a 16.2x industry multiple.
May 15Mondelez lost German court case on May 14 over Milka chocolate bar shrinkflation from 100g to 90g without packaging change.Mixed▶
On May 14, the Regional Court of Bremen in Germany ruled against Mondelez International, finding the company had reduced its Milka chocolate bar from 100g to 90g without significantly changing the packaging—a shrinkflation case that could pressure pricing/packaging practices in EU markets. Q1 2026 results showed sales rising to $10.08B with net income up to $560M and diluted EPS of $0.44, with organic sales +3% YoY (+6% emerging markets, +0.8% developed). Rising cocoa costs continue to weigh on margins (earnings nearly halved on record cocoa costs in prior period). Stock trades near $61 (+14-15% YTD) at a trailing P/E of ~30x, above peers. Quarterly dividend remains $0.50 with 13 years of consecutive increases.
May 14Mondelez shares trade up about 15% YTD after Q1 2026 beat, with chocolate organic revenue up 5.5% and multiple analyst target hikesPositive▶
Mondelez International stock traded around $61-$62 in early-to-mid May 2026, up about 12% over the past month and roughly 15% year-to-date. Q1 2026 revenue rose 8.2% YoY to $10.08 billion with net income of $560 million and adjusted EPS of $0.67 (beating the $0.61 IBES estimate). Chocolate organic net revenue grew 5.5%, supported by emerging-market strength and launches like Cadbury Biscoff Egg and Toblerone Very Limited Editions. Management reaffirmed full-year 2026 guidance despite soft U.S. consumer confidence and elevated cocoa costs. Margins remain pressured at 6.6% due to cocoa input costs and softer volume. JPMorgan raised its target to $70 from $67, Evercore ISI to $71 from $70, and BofA to $67 from $65.
May 13Mondelez trades near $61 as cocoa-cost pricing strategy offsets margin pressure after Q1 sales hit $10.08B.Mixed▶
Mondelez shares are holding near $61 (up ~15% YTD) after Q1 2026 results: sales of $10.08B (+8.2% YoY), net income of $560M, GAAP diluted EPS of $0.44, and adjusted EPS of $0.67 vs $0.61 consensus. Management reaffirmed full-year guidance and is leaning on a global pricing strategy to offset elevated cocoa costs, especially in Europe and emerging markets. Innovation push includes Toblerone Very Limited Editions and Milkinis for India. JPMorgan raised its PT to $70 from $67, Evercore ISI to $71 from $70, and BofA to $67 from $65. Risk: 6.6% operating margin reflects cocoa cost pressure, soft U.S. consumer confidence, and Middle East cost exposure.
May 12Mondelez Q1 2026 sales hit $10.08B with organic growth +3% as analysts raise targets toward $71.Positive▶
Mondelez International reported Q1 2026 sales of $10.08B with net income of $560M and EPS of $0.44 from continuing operations. Organic sales rose 3% YoY: emerging markets +6% (volume/mix +0.5%), developed markets +0.8% (volume/mix -1.2%). Multiple analysts raised price targets after earnings: Evercore ISI to $71, JPMorgan to $70, BofA to $67, TD Cowen to $67, Piper Sandler to $65. Shares trade near $61.31, up roughly 12% over the past month. The company is executing aggressive pricing to offset elevated cocoa costs (expected to lift revenue globally) and has flagged a $500M inventory adjustment plus increased brand investment in 2026, with margin recovery expected in 2027. CEO continues to highlight an innovation agenda for 2026.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| MDLZMONDELEZ | $60.11 | -1.24% | -2.8% | 17.8x | 0.40 | $77.2B |
| HSYHERSHEY | $172.52 | -1.59% | -9.5% | 17.4x | 0.08 | $35.0B |
| KHCKRAFT | $22.81 | -1.70% | -3.0% | 10.9x | 0.08 | $27.1B |
| TSNTYSON | $55.48 | -1.29% | -16.6% | 12.2x | 0.38 | $19.5B |
| GISGENERAL | $33.43 | +0.21% | -0.6% | 10.6x | -0.04 | $17.8B |
| HRLHORMEL | $24.15 | -0.76% | +16.4% | 15.5x | 0.34 | $13.3B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price above both MAs — bullish structure.