Monster Beverage Corporation (NASDAQ:MNST) received a $60.00 price objective from analysts at Citigroup Inc. in a report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 6.59% from the stock’s current price.
A number of other equities analysts also recently issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Monster Beverage Corporation in a report on Friday, October 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 price target on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $61.00 price target on shares of Monster Beverage Corporation in a report on Friday, September 22nd. Macquarie began coverage on shares of Monster Beverage Corporation in a report on Thursday, September 14th. They set an “outperform” rating and a $65.00 target price for the company. Finally, Credit Suisse Group downgraded shares of Monster Beverage Corporation to a “hold” rating in a report on Friday, September 8th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Monster Beverage Corporation currently has a consensus rating of “Buy” and a consensus price target of $57.06.
Shares of Monster Beverage Corporation (NASDAQ MNST) opened at 56.29 on Wednesday. The stock has a market cap of $31.98 billion, a PE ratio of 42.58 and a beta of 1.02. The stock’s 50 day moving average is $55.86 and its 200-day moving average is $51.48. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.01). The company had revenue of $907.07 million during the quarter, compared to analysts’ expectations of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. On average, analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
In related news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the sale, the director now directly owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in Monster Beverage Corporation during the second quarter valued at approximately $11,992,000. Toronto Dominion Bank lifted its position in Monster Beverage Corporation by 25.8% during the second quarter. Toronto Dominion Bank now owns 136,529 shares of the company’s stock valued at $6,782,000 after buying an additional 27,994 shares in the last quarter. WINTON GROUP Ltd lifted its position in Monster Beverage Corporation by 1,476.5% during the second quarter. WINTON GROUP Ltd now owns 181,329 shares of the company’s stock valued at $9,008,000 after buying an additional 169,827 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Monster Beverage Corporation by 3.7% during the second quarter. Public Employees Retirement System of Ohio now owns 299,149 shares of the company’s stock valued at $14,862,000 after buying an additional 10,544 shares in the last quarter. Finally, Covington Capital Management acquired a new position in Monster Beverage Corporation during the second quarter valued at approximately $206,000. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
Monster Beverage Corporation Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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