Mondelez International, Inc. (NASDAQ:MDLZ) is included among the 15 Best Wide Moat Dividend Stocks to Invest in. TD Cowen Raises Mondelez (MDLZ) Target While North America Volumes Remain Weak On February 4, TD Cowen lifted its price target on Mondelez International, Inc. (NASDAQ:MDLZ) to $65 from $62 and maintained a Buy rating. The firm noted that management’s early outlook for 2026 came in below consensus, with organic growth projected at 0%–2%. That range reflects the risk that competitors could cut c ...

Mondelez International (NasdaqGS:MDLZ) Q4 2025 Earnings call February 03, 2026 05:00 PM ET Company ParticipantsDirk Van de Put - Chairman and CEOLuca Zaramella - COO and CFOConference Call ParticipantsAndrew Lazar - AnalystChris Carey - AnalystDavid Palmer - AnalystMegan Clapp - AnalystMichael Lavery - AnalystPeter Galbo - AnalystScott Marks - AnalystOperatorGood afternoon and welcome to the Mondelēz International 2025 fourth quarter and full year earnings question and answer session. Your lines have been p ...

Mondelez International (NasdaqGS:MDLZ) Q4 2025 Earnings call February 03, 2026 05:00 PM ET Speaker9Good afternoon and welcome to the Mondelēz International 2025 fourth quarter and full year earnings question and answer session. Your lines have been placed on listen only until it's your turn to ask a question. In order to ask a question, please press the star key followed by the number 1 on your touch tone phone at any time. To remove yourself from the queue, press star 2. On today's call are Dirk Van de Put ...

Core Viewpoint - Mondelez International, Inc. is positioned favorably in the market with strong cash returns to shareholders and improved EPS visibility due to declining cocoa prices, despite facing challenges from cocoa cost inflation [2][3][4]. Group 1: Financial Performance and Shareholder Returns - Mondelez has a robust history of returning cash to shareholders, with dividends growing at an annual rate above 10% over the past five years [3]. - The company has repurchased over $13 billion of its own shares since 2018, reducing the share count by approximately 15% [3]. - Morgan Stanley raised its price target for Mondelez to $65, indicating positive sentiment towards the stock [2]. Group 2: Market Challenges and Opportunities - The recent decline in cocoa prices is seen as beneficial for Mondelez, enhancing visibility into earnings per share forecasts [2]. - However, the company has warned that unprecedented cocoa cost inflation could potentially reduce adjusted earnings per share by up to 15% in 2025 [4]. - Mondelez operates from a position of financial strength, supported by its diverse geographic presence and established brand portfolio amid economic uncertainties [4]. Group 3: Company Overview - Mondelez International, Inc. is recognized as one of the largest snack companies globally, with a diverse portfolio that includes biscuits, chocolate, cakes, pastries, snack bars, and candy [5].

(the "Company") (A joint stock company incorporated in the People's Republic of China with limited liability) WARNING The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Post Hearing Information Pack, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Post Hearing Information ...

Summary of Conference Call Notes Industry Overview: FMCG Sector in India Key Insights - **Earnings Growth Acceleration**: The FMCG sector is expected to see strong earnings growth in 2026, driven by revenue growth and margin improvements. The anticipated earnings growth is attributed to GST rate cuts and low food inflation, which will benefit mass-consumption categories like soap, hair oil, shampoo, and biscuits [1][5][10]. - **Demand Drivers**: The combination of GST rate cuts and a low base from the weak summer season in 2025 is expected to accelerate growth in various categories, including aerated beverages [1][10]. - **Margin Improvements**: Companies are experiencing favorable conditions due to declining input costs for key materials such as palm oil, crude oil, tea, and copra, which will enhance gross margins [1][10]. Earnings Downgrade Cycle - **Conclusion of Downgrade Cycle**: The earnings downgrade cycle for many leading FMCG stocks is believed to be over, with expectations of strong EPS growth moving forward. This follows significant downgrades in 2HFY25 and 1HFY26 due to volume growth moderation and margin pressures [3][19]. Company-Specific Insights Top Picks in FMCG - **GCPL, TCPL, and Marico**: These companies are highlighted as top picks due to their strong growth potential and favorable market conditions. GCPL is expected to see strong earnings growth driven by high-growth segments, while TCPL is anticipated to deliver significant revenue growth from its diversified product offerings [2][24][45]. - **Varun Beverages (VBL)**: VBL is projected to experience strong revenue growth as it recovers from a low base due to the weak summer season in 2025. The company is also improving margins through backward integration in its Africa business [2][24][40]. Consumer Discretionary Sector - **Cautious Outlook**: The consumer discretionary sector is viewed with caution due to high valuations and increased competition. Titan is identified as a top pick within this sector, expected to maintain consistent earnings growth [4][26][27]. - **Competitive Intensity**: High competition in grocery retailing, paints, and fashion is noted, which may impact profitability for many companies in this sector [4][27]. Financial Projections - **Sales and PBT Growth Estimates**: - FMCG sales growth is projected to increase from 5.8% in FY24 to 10.0% in FY27 [9]. - PBT growth for FMCG coverage (excluding ITC) is expected to accelerate to mid-teens in FY27 [7][10]. Input Cost Trends - **Moderation in Input Prices**: Key input costs such as crude oil, palm oil, and tea are showing signs of moderation, which is expected to positively impact gross margins for FMCG companies [10][11][18]. Risks and Considerations - **Regulatory Risks**: Potential regulatory changes affecting gold imports could impact companies like Titan, while adverse weather conditions may affect demand for FMCG products [35][39][47]. - **Competitive Pressures**: Increased competition in various segments could lead to pricing pressures and impact margins for companies across the FMCG and discretionary sectors [27][41]. Conclusion The FMCG sector in India is poised for a strong recovery in 2026, driven by favorable demand conditions and margin improvements. Key players like GCPL, TCPL, and Marico are well-positioned to capitalize on these trends, while caution is advised in the consumer discretionary sector due to competitive pressures and high valuations.

Core Viewpoint - The discussion centers around the challenges faced by companies like Cracker Barrel in aligning their brand philosophy with customer expectations, particularly in the context of recent consumer backlash against perceived "woke" policies [1][3][6]. Company Analysis - Cracker Barrel's management and board are criticized for failing to connect with their core customer base, leading to a perception of disconnect and dissatisfaction among traditional customers [3][4]. - The suggestion is made that instead of trying to attract new customers through changes in branding or philosophy, Cracker Barrel should focus on its existing customer base and what has historically worked for the brand [5][10]. - There is a strong emphasis on the quality of food as a critical factor for the restaurant's success, with calls for a return to fresh food preparation methods rather than pre-packaged or frozen options [9][10]. Industry Context - The conversation draws parallels with other companies like Target and Anheuser-Busch, which have faced similar consumer pushback for their brand positioning and marketing strategies [1][2]. - The notion of companies needing to innovate and stay relevant is discussed, but it is argued that such efforts should not come at the expense of alienating existing customers [6][7].

Core Insights - Cracker Barrel is facing backlash from loyal customers who believe the quality of food has declined, particularly due to changes in preparation methods and menu items [1][2][3] Group 1: Customer Feedback - Longtime patrons have expressed dissatisfaction with the chain's meals, stating they no longer meet traditional standards, which has been exacerbated by a recent branding overhaul [2] - Customers have noted that favorite menu items have disappeared and that kitchen shortcuts have replaced previous cooking practices, leading to a perceived decline in quality [2][3] - Specific complaints include the shift from rolling biscuit dough to baking larger batches and reheating sides, which has contributed to the frustration among diners [3] Group 2: Company Response - Cracker Barrel has acknowledged the feedback and is working to improve food quality, reinstating items like Campfire Meals and Uncle Herschel's Favorite Breakfast [9] - The CEO indicated that the company's recovery from the recent rebranding fiasco is progressing slower than anticipated, with first-quarter results falling below expectations [10] - The CEO emphasized that the recovery will take time as the company aims to regain momentum and address ongoing challenges [10]

Core Insights - The Hershey Company, based in Pennsylvania, has a market capitalization of $38.8 billion and operates in the confectionery and pantry items sectors both domestically and internationally [1][2]. Financial Performance - Hershey's stock has decreased by 12.1% from its 52-week high of $208.03 reached on December 9, 2024, and has seen a 1.6% decline over the past three months, slightly outperforming the Consumer Staples Select Sector SPDR Fund's (XLP) 2.3% drop during the same period [3]. - Year-to-date, Hershey's stock has gained 7.9% and 2.8% over the past 52 weeks, compared to XLP's marginal increase of 20 basis points in 2025 and a 5.2% decline over the past year [4]. - Following the release of Q3 results on October 30, despite better-than-expected performance, Hershey's stock fell by 2.4%. The company reported a 6.2% increase in organic constant currency sales year-over-year and a 6.5% rise in overall topline revenue to $3.2 billion, exceeding expectations by 1.8% [5]. - Adjusted EPS decreased by 44.4% year-over-year to $1.30 but surpassed consensus estimates by 19.3% [5]. - Hershey's performance has outpaced that of its peer, Mondelez International, which experienced a 6.3% drop year-to-date and a 14.2% decline over the past year [6].

Core Insights - Mondelez International is investing 620 million zlotys ($169 million) to expand its biscuit factory in Płońsk, Poland, aiming to make it the largest in the country [1][3] - The expansion is expected to increase production capacity by 30% and create 180 new jobs, adding to the current workforce of approximately 700 employees [1][4] Company Operations - The Płońsk facility has been operational since 1976 and has evolved into a key biscuit production hub for Mondelez in Europe, responsible for about 60% of the European volumes of the Barni brand, known as Lubisie in Poland [2] - The investment will include a dedicated production line for the Lubisie brand, a second line for Milka biscuits, a new raw-materials warehouse, and upgrades to site infrastructure [3][4] Strategic Importance - The strategic location of Poland is highlighted as crucial to Mondelez International's supply chain, with the investment reflecting the company's ambition to lead in the snacks market [3] - The modernization efforts are aimed at enhancing plant efficiency by 30% and improving safety measures [4]