Stocks were little changed this morning after another record high for the Nasdaq. After a four-day winning streak, the Nasdaq broke 15,000 for the first time yesterday, bringing its YTD gains to more than 16%.
Online sales have been boosting revenues of a few key companies in the food industry space as high consumer dependency on digital transactions has pushed them to bolster online offerings. The company featured in today’s stock pick is bolstering operations at fulfillment centers to continue building on the sales momentum. Keep reading to find out which beloved snack maker is striving to meet growing demand.
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Well-known chocolate, candy, and snack manufacturer Mondelez International (MDLZ) has been gaining on robust demand in developed markets while performance in the emerging markets continues to improve. All the while, Mondelez has been focused on lucrative acquisitions, cutting costs, and brand building through innovation.
The oreo-maker recently acquired Chipita, a Greek company whose croissants and baked snacks helped generate $580 million in sales last year. The company’s products are most popular in Eastern Europe but have great potential for growth around the globe, especially in emerging markets.
The company has teamed up with MissFresh to introduce Oreo Zero. The launch of OREO’s sugar-free Oreo Zero line on MissFresh is likely to be beneficial, thanks to MissFresh’s fast and renowned grocery delivery service and solid customer base. This new range of sugar-free sandwich cookies is likely to cater to online customers of China well in the face of consumers’ growing health consciousness as part of which they are reducing sugar intake.
Mondelez has been boosting its presence in emerging markets, as is evident from the addition of 80,000 new stores in China and India in Q2. During the quarter, revenues from emerging markets increased nearly 20% to $2,293 million. The company saw double-digit growth in India, Mexico, and Russia, as well as high-single-digit improvement in China.
Organic revenues have also benefited from efficient pricing strategies and higher volumes. Plus, the company is currently engaged in rationalizing operational structures in an effort to cut costs. This bodes well for the stock in the mid and long term.
Of 23 analysts polled, 19 rate the stock a Buy, 4 rate it a Hold. There are no Sell ratings for Mondelez. The 20 analysts offering a 12-month forecast for the stock have a median target of $71, representing a 14% upside from its current price.
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