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Mondelez Has a Rich Price, but a Sweeter Outlook

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Known for its Oreo cookies and Cadbury chocolates, Mondelez International (MDLZ - Get Report) -- shares of which are up 28% on the year and 36% in twelve months -- has delivered savory returns for its shareholders. And with the company projecting higher future profits based on an aggressive cost-cutting initiative, Mondelez should realize even higher margins in the quarters and years ahead. So, while its shares -- trading at 31 times earnings, compared to a P/E of 21 for the S&P 500 (SPX) index -- aren't cheap today, investors who are waiting for a better entry point soon are likely to be disappointed.

Headquartered in Deerfiled, Ill., Mondelez reports third-quarter 2015 earnings results before the opening bell Wednesday. Like several of its competitors in the packaged food industry that...


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