Morningstar Rating

Stock Research and Analysis

by Erin Lash, CFA

Bulls Say

Private-label products have failed to meaningfully penetrate the confectionery aisle, controlling just 5% of the global market.
Sales generated from new products launched in the past three years amounted to 13% in 2014, providing evidence of Mondelez's commitment to bringing new products to market that win with consumers.
Aged production lines plague its manufacturing networks (particularly on its home turf), and as such, the firm is investing to upgrade its facilities, which should aid in achieving management's target of 500 basis points of margin improvement in North America by 2016. Read more 

Bears Say

Compounding the challenges facing gum, Hershey is working with retailers to shrink gum's shelf space in favor of expanding the candy assortment, which would further delay a turnaround in the category.
The tough economic climate is prompting consumers around the world to rein in spending, which could cause a pronounced reduction in impulse purchases of products such as chocolate.
Mondelez pulled some products from store shelves (primarily in France) after retailers pushed back on proposed price hikes, illustrating the dynamic relationship between retailers and consumer product firms. Read more 


Before the split of its operations into its North American grocery and global snacks business, we perceived Kraft's stewardship of shareholder capital to be standard. As an independent organization, we think Mondelez is continuing down the path of optimizing   Read more 


Following the spin-off of its North American grocery operations in the fall of 2012, Kraft's global snacks business was renamed Mondelez International. The firm is a leading   Read more 

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