Oreo's maker is making a majority investment in Undercover, known for chocolate-covered quinoa crisps.

Mondelēz International will acquire a majority stake in Undercover Snacks, expected to close in Q1 2027. Undercover will operate independently within Mondelēz's North America Ventures unit. The deal expands Mondelēz's healthier snack portfolio, according to CEO Dirk Van de Put. Mondelēz reported a 2.3% revenue increase to $9.97 billion in Q3, with Latin America seeing the fastest growth at 12%.

Freedom Broker upgraded Mondelez (MDLZ) to buy with a $71 price target. Q3 revenue was $9.97B, EPS $0.78, beating estimates. Organic revenue grew 2.1%, with strong profit and income increases. Analysts raised targets to $74-$75, citing growth prospects and margin optimism.

Mondelez (MDLZ) shares rose 4.3% after reporting Q3 2026 revenue up 2.3%, EPS up 78.9% to $1.02, and an agreement to acquire Undercover Snacks. Adjusted EPS of $0.78 beat estimates by 10.2%. Shares later cooled to $65.06, up 4%.

The S&P 500 ex-AI stocks are set for a 6% monthly gain, the best since 2022, as consumer staples lead. Colgate-Palmolive and Mondelez International rose after earnings beats. The Nasdaq 100 and S&P 500 fell, with Intel seeing record intraday declines. 78% of S&P 500 companies have beaten EPS estimates so far in 3Q.

Mondelēz International (MDLZ) has invested in Undercover Snacks, a gluten-free snack company. Undercover will operate independently but gain access to Mondelēz's resources. Founder Diana Levy will remain CEO. Undercover's products are sold in 25,000+ retail locations and on United Airlines. Mondelēz reported 2025 net revenues of $38.5 billion.

Stifel raised Mondelez's (MDLZ) price target to $74 from $68, citing strong Q3 results. The company reported EPS of $0.78, beating estimates, and raised its dividend for 12 straight years. Analysts highlight volume growth and margin expansion. MDLZ trades at $64.79, up 19% YTD. TD Cowen and Goldman Sachs also raised targets to $75, maintaining Buy ratings.