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MDLZ · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Mondelez International, Inc. Class A (MDLZ) stock moving?
MDLZ closed at $66.54 on Nov 10, up about 7.5% from the $61.87 low on Oct 28 and roughly flat versus Oct 22 ($65.19). The Q3 report on Oct 29 came with mixed numbers: adjusted EPS of $0.78 beat the $0.71 estimate, reported diluted EPS rose 78.9% to $1.02, and net revenue rose 2.3%, but sales of $9.967B missed the $9.982B estimate. Full-year adjusted EPS guidance was trimmed to $2.96-$3.11 from $2.97-$3.12, with the midpoint now slightly below the $3.05 consensus, while organic net revenue growth of at least 2% was reaffirmed. The stock rose on heavy volume of 15.1M on Oct 30 and climbed to a high of $68.75 on Nov 5 before consolidating between $66 and $66.6 over the last three sessions, with volume easing to about 6-7M shares. Analysts raised targets after the report: TD Cowen to $75 (Buy), Bernstein to $74 (Buy), BNP Paribas to $72 (Outperform), and Redburn to $56, which sits well below the price. Other news is incremental: the Undercover Snacks majority stake, the Accenture AI order-to-cash partnership, the Ritz Super Bowl return for 2027, and a limited recall of CHIPS AHOY! Baked Bites Brookie over a safety concern. The main risks are the guidance trim, the revenue miss, and the recall, which may carry some brand and cost implications.
News behind the analysis
- Mondelēz International Reports Third Quarter 2026 ResultsQ3 2026 net revenues rose 2.3% and diluted EPS jumped 78.9% to $1.02.
- Mondelez International Q3 Adj. EPS $0.78 Beats $0.71 Estimate, Sales $9.967B Miss $9.982B EstimateAdjusted EPS beat consensus while revenue came in slightly below estimates.
- Mondelez International Lowers FY2026 Adj EPS Guidance from $2.97-$3.12 to $2.96-$3.11 vs $3.05 EstFull-year adjusted EPS guidance was trimmed slightly, with the midpoint now below the $3.05 estimate.
- Mondelez International Reaffirms 2026 Organic Net Revenue Growth Guidance of At Least 2%The company kept its organic net revenue growth outlook of at least 2% for 2026.
- TD Cowen Maintains Buy on Mondelez International, Raises Price Target to $75TD Cowen kept its Buy rating and lifted its price target to $75 from $70.
- BNP Paribas Maintains Outperform on Mondelez International, Raises Price Target to $72BNP Paribas kept its Outperform rating and raised its price target to $72.
- Mondelez International Acquires Majority Stake in Undercover SnacksMondelez took a majority interest in Undercover Snacks, a maker of chocolate-covered and frosted quinoa crisps.
- Bernstein Maintains Buy Rating on Mondelez InternationalBernstein kept its Buy rating on MDLZ with a $74 price target.
- Rothschild & Co Redburn Adjusts Price Target on Mondelez International to $56 From $55Redburn raised its price target by $1 to $56, which remains well below the current share price.
- Mondelly Global LLC Recalls CHIPS AHOY! Baked Bites BrookieMondelez Global LLC recalled specific CHIPS AHOY! Baked Bites Brookie products over a safety concern.
About Mondelez International, Inc. Class A
Mondelez International is one of the world's biggest snack makers. It sells brands like Oreo, Ritz, LU, Clif Bar, Cadbury Dairy Milk, Milka and Toblerone in more than 150 countries. Most of its sales come from outside the US, and emerging markets make up a large share.
How it makes money
Mondelez makes and sells branded snacks to grocery stores, mass merchants and convenience stores, with 2025 net revenue of about $38.5 billion. Roughly half of its sales are biscuits and baked snacks such as cookies and crackers. Chocolate makes up about 30%, and gum, candy, cheese and grocery items make up the rest. By region, Europe is its largest market at about a third of revenue, followed by North America and then emerging markets in Latin America, Asia, the Middle East and Africa.
What usually moves MDLZ
- Cocoa, sugar, dairy and packaging costs
- Pricing power versus sales volume
- Currency moves from heavy non-US sales
- Consumer spending, especially in North America
- Growth in emerging markets and acquisitions