MONDELEZ INTERNATIONAL INC. $44 (Nasdaq symbol MDLZ; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.6 billion; Market cap: $70.4 billion; Price-to-sales ratio: 2.3; Dividend yield: 1.5%; TSINetwork Rating: Above Average; www.mondelezinternational.com) makes cookies and biscuits (Oreo, Chips Ahoy!, Ritz), chocolate bars (Cadbury, Toblerone), gum and candy (Trident, Chiclets) and Halls cough drops.
In the first quarter of 2016, Mondelez’s revenue fell 16.8%, to $6.5 billion from $7.8 billion a year earlier. Factoring out currency rates, sales rose 2.1%. Due to savings from plant closures and better efficiency, earnings per share jumped 23.1%, to $0.48 from $0.39.
As of March 31, 2016, Mondelez held cash of $1.3 billion. Its long-term debt of $13.8 billion is a moderate 20% of its market cap.
In response to rising consumer demand for healthier snacks, the company is developing several new products. For example, it recently launched GOOD THiNS. These low-fat crackers feature natural ingredients without artificial flavours or colours.
The long-term outlook for Mondelez is bright, as rising incomes in emerging markets makes its products more affordable. However, the stock is expensive at 25.3 times the company’s likely 2016 earnings of $1.74 a share. The $0.68 dividend yields 1.5%.
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